# Low meal prices pose risks to soybean crush margins in South America | S&P Global

> 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.

- Date: 2025-08-26 · published 2025-08-26T12:00:00.000Z
- Category: market · region South America · magnitude medium
- Page: https://feedsoft.ai/events/13837-low-meal-prices-pose-risks-to-soybean-crush-margins-in-south-america-s-and-p
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SBM: bearish ▼
- SBO: neutral
- SOY: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/082625-low-meal-prices-pose-risks-to-soybean-crush-margins-in-south-america

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