# South American soybean meal basis hits three-month high | S&P Global

> South American soybean meal port basis strengthened to its highest since December 2024, with Brazil's FOB Paranagua at a $7/st premium to CBOT on March 20 and Argentina's Up River at $2/st. Market participants attribute part of the firmness to expected Chinese purchases of South American soybeans in place of US beans and EU meal buying due to trade disputes. Outright FOB prices remain near lows since mid-2020.

- Date: 2025-03-21 · published 2025-03-21T12:00:00.000Z
- Category: trade · region South America · magnitude medium
- Page: https://feedsoft.ai/events/25655-south-american-soybean-meal-basis-hits-three-month-high-s-and-p-global
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Stronger South American meal premiums raise the landed cost of meal for importers despite low outright prices, and signal trade-diversion demand that could support soybean meal values into the new season.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-01-12 | [EU soybean meal imports slump on tight South American supplies: sources](https://feedsoft.ai/events/49224-eu-soybean-meal-imports-slump-on-tight-south-american-supplies-sources.md) | +2.5% | -1.5% |
| SBM | 2026-07-21 | [Global demand for soybean meal drives prices up in Brazil and the U.S.](https://feedsoft.ai/events/18436-global-demand-for-soybean-meal-drives-prices-up-in-brazil-and-the-u-s.md) | -0.7% | -2.6% |
| SBM | 2021-03-22 | [EU soybean meal imports continue to fall amid tight S American supplies: sources](https://feedsoft.ai/events/48199-eu-soybean-meal-imports-continue-to-fall-amid-tight-s-american-supplies-sources.md) | -1.1% | -0.5% |
| SBM | 2024-02-29 | [Soybean meal prices in Thailand will remain high](https://feedsoft.ai/events/31752-soybean-meal-prices-in-thailand-will-remain-high.md) | -0.3% | -0.6% |
| SBM | 2025-10-31 | [Soybeans Rise to 15-Month Highs](https://feedsoft.ai/events/22450-soybeans-rise-to-15-month-highs.md) | -0.1% | -0.8% |
| SOY | 2023-02-22 | [China likely to buy more US Gulf soybeans in Q1 amid South American supply woes \| S&P Global](https://feedsoft.ai/events/14863-china-likely-to-buy-more-us-gulf-soybeans-in-q1-amid-south-american-supply-woes.md) | -3.8% | -5.3% |
| SOY | 2025-05-12 | [U.S. grains: Soybeans hit three-month high on US-China trade deal, USDA report - Canadian Cattlemen](https://feedsoft.ai/events/9508-u-s-grains-soybeans-hit-three-month-high-on-us-china-trade-deal-usda-report.md) | +0.6% | +1.1% |
| SOY | 2021-02-01 | [Why the South American soybean crop is more important than you think](https://feedsoft.ai/events/49190-why-the-south-american-soybean-crop-is-more-important-than-you-think.md) | -0.2% | +1.6% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/032125-south-american-soybean-meal-basis-hits-three-month-high

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