# Argentina’s poor crush capacity shifts soymeal demand to US

> Soybean crushing in Argentina has not recovered after the 2022/23 drought, with September crush at a 22-year low. Soymeal demand has shifted to the US, lifting CBOT soymeal futures about 21.7% in one month while soyoil prices came under pressure.

- Date: 2023-11-08 · published 2023-11-08T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/13947-argentina-s-poor-crush-capacity-shifts-soymeal-demand-to-us
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Diverted export demand to US meal supports soymeal prices, while higher US meal output from crushing pushes soyoil prices lower.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-03-04 | [Cargill to boost U.S. soy crush capacity, plant efficiency as food, biofuel demand rises \| Reuters](https://feedsoft.ai/events/48145-cargill-to-boost-u-s-soy-crush-capacity-plant-efficiency-as-food-biofuel-demand.md) | -3.0% | -1.7% |
| SBM | 2025-09-18 | [Soybean windfall brings pain to Argentina’s crushing industry amid US-China trade war](https://feedsoft.ai/events/13834-soybean-windfall-brings-pain-to-argentina-s-crushing-industry-amid-us-china.md) | -3.8% | -2.8% |
| SBM | 2021-09-24 | [China's soybean demand in Q4 set to slacken as crushers face power cuts: trade](https://feedsoft.ai/events/45137-china-s-soybean-demand-in-q4-set-to-slacken-as-crushers-face-power-cuts-trade.md) | -2.5% | -3.2% |
| SBM | 2023-08-23 | [Brazil to lead soymeal exports as Argentina's production slumps - DatamarNews](https://feedsoft.ai/events/34666-brazil-to-lead-soymeal-exports-as-argentina-s-production-slumps-datamarnews.md) | +3.0% | -3.4% |
| SBM | 2023-02-15 | [India's soymeal exports to soar as drought trims Argentine supply](https://feedsoft.ai/events/37414-india-s-soymeal-exports-to-soar-as-drought-trims-argentine-supply.md) | -0.8% | -2.3% |
| SBO | 2026-10-21 | [Argentina plans to increase soybean crush and exports in 2026/27](https://feedsoft.ai/events/13773-argentina-plans-to-increase-soybean-crush-and-exports-in-2026-27.md) | +0.5% | — |
| SBO | 2025-12-02 | [China’s soyabean oil exports to India surge due to weak demand…](https://feedsoft.ai/events/11265-china-s-soyabean-oil-exports-to-india-surge-due-to-weak-demand.md) | -2.3% | -5.7% |
| SBO | 2025-09-22 | [Lack of China Demand Hammers US Soybean Oil Prices - TT](https://feedsoft.ai/events/22934-lack-of-china-demand-hammers-us-soybean-oil-prices-tt.md) | -2.6% | -0.1% |

## Sources

- mintecglobal.com: https://www.mintecglobal.com/top-stories/argentinas-poor-crush-capacity-shifts-soymeal-demand-to-us

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