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Low soybean meal prices have cut crush margins in Brazil and Argentina, with Platts assessing the Paranaguá crush spread at $21.79/mt, down over 50% year on year. Argentina's FOB crush margin was reported at zero, versus $51/mt a year earlier.
Spot meal export prices are around $300-310/mt, multi-year lows, while Santos soybeans rose about 12% year on year.
Weak meal prices and poor crush margins may slow South American crushing, reducing meal output and supporting meal prices over time. Higher soybean basis from Chinese demand adds to the squeeze on processors.
spglobal.comJose Roberto Gomes, Gabriel Diniz FaleirosAug 26, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
