Loading…
StoneX analyst Craig Turner reported on April 10, 2026 that soybean meal was rallying and leading soybeans higher after the USDA announced a 100,000 MT sale to Italy. He noted unconfirmed rumors of Iranian purchases of South American meal and set $340 per short ton as a breakout level for May meal.
Strong export demand for meal supports meal and soybean prices, and continued buying could also lift canola.
stonex.comCraig TurnerApr 10, 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.
Not enough comparable past events yet for a historical read.
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.
Meal rally on the Italy sale, rumored Iranian purchases of South American meal, and a technical breakout level at $340.
