# Soybean Processing Margins Far Weaker Than Past Few Years

> CME soybean crush margins have averaged $0.86 per bushel so far in 2024, far below 2023's $1.77 average and 2022's record $2.05. Nearby soybean oil is near its lowest since February 2021, and soybean meal is at its lowest since November 2021 as Argentina's crop nearly doubles.

- Date: 2024-04-26 · published 2024-04-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/30807-soybean-processing-margins-far-weaker-than-past-few-years
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weak product values and expanding Argentine meal supply cap soybean meal export prices and reduce crush demand for soybeans.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2024-04-29 | 1 | -2.9% | -3.3 | Weak crush margins and soyoil near its lowest since 2021 on large Argentine supply set a bearish backdrop and sentiment ahead of the drop. |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2024/04/26/soybean-processing-margins-far-past

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