
Peru has officially ended the first 2026 North-Central anchovy season after repeated closures for juvenile fish and a suspension of fishing. Only about 25% of the 1.91 million-tonne quota was landed.
IMARPE reports anomalously warm coastal conditions during 2026.
Peru typically supplies around 20% of world fishmeal, so a near-total loss of its first season tightens global marine protein supply. Fishmeal and fish oil prices are likely to firm, which raises feed costs and may lift demand for soybean meal as a substitute.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
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.