
Global fishmeal output fell 28% in Q1 2026, according to eFeedLink. Climate volatility, El Niño risk in Peru, and competition from Chinese feed and salmon producers are tightening marine ingredient supplies.
A steep production decline in a key feed protein tightens supply, supporting fishmeal prices and encouraging buyers to shift toward soymeal and other alternatives.
Not enough comparable past events yet for a historical read.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
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.