# Central Illinois soybean, soymeal prices hit multi-year lows - The Jacobsen

> Central Illinois soybean meal fell to a two-year low of $340.75 per short ton and soybeans hit a three-year low at $10.16 per bushel in the week to August 16. Soybean oil dropped 6.4% to 40.64 cents per lb.

- Date: 2024-08-19 · published 2024-08-19T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/28885-central-illinois-soybean-soymeal-prices-hit-multi-year-lows-the-jacobsen
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Multi-year lows in meal and beans signal abundant supply and weak crush demand, keeping feed protein inexpensive. Buyers can expect continued soft pricing unless demand picks up.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- thejacobsen.com: https://thejacobsen.com/2024/08/19/central-illinois-soybean-soymeal-prices-hit-multi-year-lows/

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