# Canada Know-Risk Market Outlook | Soybean Meal Rallies on Strong Demand

> 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.

- Date: 2026-04-10 · published 2026-04-10T12:00:00.000Z
- Category: trade · region Canada · magnitude low
- Page: https://feedsoft.ai/events/11667-canada-know-risk-market-outlook-soybean-meal-rallies-on-strong-demand
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Strong export demand for meal supports meal and soybean prices, and continued buying could also lift canola.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CANMEAL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2026-04-09 | 1 | +3.5% | 3.2 | Meal rally on the Italy sale, rumored Iranian purchases of South American meal, and a technical breakout level at $340. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-07-19 | [Freight rates rebound on stronger Chinese soybean demand - Fastmarkets](https://feedsoft.ai/events/35234-freight-rates-rebound-on-stronger-chinese-soybean-demand-fastmarkets.md) | +2.2% | -6.8% |
| SBM | 2019-04-21 | [USDA sees strong PHL soybean meal market due to growing demand for animal feed - BusinessWorld Online](https://feedsoft.ai/events/59675-usda-sees-strong-phl-soybean-meal-market-due-to-growing-demand-for-animal-feed.md) | -1.1% | -2.9% |
| SBM | 2020-03-04 | [Soybeans rise on hopes for export demand, financial market gains \| Financial Post](https://feedsoft.ai/events/54186-soybeans-rise-on-hopes-for-export-demand-financial-market-gains-financial-post.md) | -2.6% | +5.8% |
| SBM | 2020-12-17 | [Soybean Demand Stays Strong \| Red River Farm Network](https://feedsoft.ai/events/49683-soybean-demand-stays-strong-red-river-farm-network.md) | +6.8% | +16.7% |
| SBM | 2020-07-24 | [ISA Works On Strengthening U.S. & Illinois Soybean Meal Demand \| Illinois Soybean Association](https://feedsoft.ai/events/52194-isa-works-on-strengthening-u-s-and-illinois-soybean-meal-demand-illinois.md) | -0.2% | +1.2% |
| SOY | 2022-12-15 | [Canada Know-Risk Market Outlook \| Wheat Demand Surfaces On Price Break](https://feedsoft.ai/events/38267-canada-know-risk-market-outlook-wheat-demand-surfaces-on-price-break.md) | -0.1% | +3.8% |
| SOY | 2024-10-21 | [Canada Know-Risk Market Outlook \| Canada Eases Stance on Chinese Tariffs](https://feedsoft.ai/events/27855-canada-know-risk-market-outlook-canada-eases-stance-on-chinese-tariffs.md) | +1.8% | +2.9% |
| SOY | 2020-07-16 | [Soybean Rises on Stronger Chinese Demand](https://feedsoft.ai/events/52164-soybean-rises-on-stronger-chinese-demand.md) | +1.5% | +0.5% |

## Sources

- stonex.com: https://www.stonex.com/en-gb/insights/canada-know-risk-market-outlook-soybean-meal-rallies-on-strong-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.