
Oil World raised its 2025/26 global soybean processing forecast by 2 million tons to 100.26 million tons, a record. Processing in the US, Brazil and Argentina rose in March, and US soybean meal consumption rose 8% year on year.
Oil World also said Argentina's reduced and delayed exports keep global meal under pressure.
Record crush increases meal and oil supply, which typically weighs on meal prices, but Argentina's smaller export flow partly offsets this. Strong processing demand supports soybean prices.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.