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China's DCE soybean meal futures have strengthened since mid-September, with the main contract closing at 3,477 yuan per tonne on September 17 and trading above 3,500 intraday. The rally follows a USDA September report that was neutral to bearish but left U.S. soybean exports strong at 1.685 billion bushels.
Reports of planned China-U.S. tariff cuts have also supported sentiment.
Persistent U.S. export demand and expected tariff relief tighten available supply for Chinese crushers and support meal prices despite high domestic inventories. Buyers should expect firm meal values while export demand holds.
mysteel.netSep 21, 2026After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
