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Oilseed crushers and renewable diesel processors face a looming US soybean meal glut as Argentine production recovers to normal levels. The USDA FAS reported record US soybean meal exports of 14.52 million tonnes in 2023-24.
With Argentine supply returning and US crush expanding, surplus meal is likely to pressure soybean meal and canola meal prices lower in the coming months.
producer.comSean PrattJun 21, 2024After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
