# China's soybean meal prices supported by strong overseas soybean, despite domestic oversupply | Mysteel

> China's soymeal futures (DCE M2609) rose to 3,112 yuan per tonne on July 20, up about 2.8% from July 6, with spot prices firming despite rising inventories. The rally was driven by tighter US soybean balance sheets in the USDA July report and by reports of private export sales of soybeans to China.

- Date: 2026-07-20 · published 2026-07-20T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/18324-china-s-soybean-meal-prices-supported-by-strong-overseas-soybean-despite
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher US soybean values lift the cost floor for soymeal and support feed ingredient prices, while new Chinese purchases tighten export availability. Buyers should expect firm meal pricing while China's domestic oversupply limits further upside.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- mysteel.net: https://www.mysteel.net/analysis/5133009-chinas-soybean-meal-prices-supported-by-strong-overseas-soybean-despite-domestic-oversupply

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