# IFFO conference reveals mixed outlook for key aquafeed ingredients | The Fish Site

> Rabobank said soybean meal faces a substantial surplus after good crops in the US, Brazil and Argentina, and that Chinese soybean demand has slowed. It also flagged a global wheat deficit from weak EU, UK, Russian and Ukrainian crops and higher Panama Canal costs.

- Date: 2024-10-24 · published 2024-10-24T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27944-iffo-conference-reveals-mixed-outlook-for-key-aquafeed-ingredients-the-fish-site
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Soybean meal oversupply should push feed protein prices lower, while the wheat deficit and canal costs support wheat and feed grain prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Sources

- thefishsite.com: https://thefishsite.com/articles/iffo-conference-reveals-mixed-outlook-for-key-aquafeed-ingredients

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