# Soybean and meal prices rise: US election campaign and

> Soybean and soymeal futures rose on speculation about a Harris victory in the US election, which could boost trade with China. USDA data showed 327,061 tonnes of US soybean export inspections, bringing cumulative exports to 42.4 million tonnes, short of last year's pace. About 68% of US soybeans were rated good to excellent.

- Date: 2024-07-23 · published 2024-07-23T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/12833-soybean-and-meal-prices-rise-us-election-campaign-and
- 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

Stronger soymeal and soybean prices support canola and other oilseed meals through correlation, while slower US export pace and political trade expectations shape near-term demand.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2025-03-03 | [China soybean meal prices rise amid mutual duty discussions](https://feedsoft.ai/events/25659-china-soybean-meal-prices-rise-amid-mutual-duty-discussions.md) | +1.3% | +1.1% |
| SBM | 2025-04-07 | [China soybean meal prices surge amid U.S. trade war escalation](https://feedsoft.ai/events/25198-china-soybean-meal-prices-surge-amid-u-s-trade-war-escalation.md) | +5.1% | +1.6% |
| SBM | 2018-05-24 | [Soybean meal: Dollars and trade talks drive prices](https://feedsoft.ai/events/65097-soybean-meal-dollars-and-trade-talks-drive-prices.md) | -1.4% | -12.8% |
| SBM | 2024-02-29 | [Soybean meal prices in Thailand will remain high](https://feedsoft.ai/events/31752-soybean-meal-prices-in-thailand-will-remain-high.md) | -0.3% | -0.6% |
| SBM | 2025-12-02 | [US soybean meal exports exceed expectations](https://feedsoft.ai/events/21585-us-soybean-meal-exports-exceed-expectations.md) | -2.4% | -4.1% |
| SOY | 2025-04-07 | [China soybean meal prices surge amid U.S. trade war escalation](https://feedsoft.ai/events/25198-china-soybean-meal-prices-surge-amid-u-s-trade-war-escalation.md) | +6.7% | +6.2% |
| SOY | 2019-08-14 | [Soybean prices rise on U.S.-China trade hopes \| Financial Post](https://feedsoft.ai/events/11472-soybean-prices-rise-on-u-s-china-trade-hopes-financial-post.md) | -1.9% | -2.1% |
| SOY | 2024-08-29 | [Soybeans rise as demand for US exports blows past expectations](https://feedsoft.ai/events/28786-soybeans-rise-as-demand-for-us-exports-blows-past-expectations.md) | +5.2% | +8.6% |

## Sources

- zmp.de: https://www.zmp.de/en/futures/oilseeds/news/newsticker-soybean-and-meal-prices-rise-us-election-campaign-and-usda-report

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