# Funds' CBOT soymeal long surges on strong US export demand  | Reuters

> Most-active CBOT soymeal futures jumped 8.6% in the week ended October 24 on rising international demand for US soybean meal. Argentina, a top meal exporter, had its worst soybean crop in many decades, sharply cutting crush.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/33657-funds-cbot-soymeal-long-surges-on-strong-us-export-demand-reuters
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentina's poor crop has tightened global meal supply and drawn strong US export demand, pushing up soymeal costs for feed formulators.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2025-12-17 | [Soyameal exports up 38% in Oct-Nov on strong European demand - The HinduBusinessLine](https://feedsoft.ai/events/21582-soyameal-exports-up-38-in-oct-nov-on-strong-european-demand-the.md) | -0.3% | -3.1% |
| SBM | 2026-04-10 | [Canada Know-Risk Market Outlook \| Soybean Meal Rallies on Strong Demand](https://feedsoft.ai/events/11667-canada-know-risk-market-outlook-soybean-meal-rallies-on-strong-demand.md) | +4.4% | +2.0% |
| SBM | 2024-08-29 | [Demand For US Soymeal Remains Good - ADM Investor Services](https://feedsoft.ai/events/28883-demand-for-us-soymeal-remains-good-adm-investor-services.md) | +3.2% | +4.6% |
| SBM | 2016-10-27 | [U.S. grains: Soybeans rise on export sales, soymeal gains - Grainews](https://feedsoft.ai/events/9239-u-s-grains-soybeans-rise-on-export-sales-soymeal-gains-grainews.md) | -3.9% | +0.5% |
| SBM | 2023-07-19 | [Freight rates rebound on stronger Chinese soybean demand - Fastmarkets](https://feedsoft.ai/events/35234-freight-rates-rebound-on-stronger-chinese-soybean-demand-fastmarkets.md) | +2.2% | -6.8% |
| SOY | 2021-04-13 | [China's Q1 soybean, grains imports surge on strong demand](https://feedsoft.ai/events/11178-china-s-q1-soybean-grains-imports-surge-on-strong-demand.md) | +4.9% | +17.2% |
| SOY | 2025-12-11 | [Soybean futures rise on fresh US export sales - CBOT
						 \| The Pig Site](https://feedsoft.ai/events/21584-soybean-futures-rise-on-fresh-us-export-sales-cbot-the-pig-site.md) | -3.0% | -3.9% |
| SOY | 2020-07-16 | [Soybean Rises on Stronger Chinese Demand](https://feedsoft.ai/events/52164-soybean-rises-on-stronger-chinese-demand.md) | +1.5% | +0.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/funds-cbot-soymeal-long-surges-strong-us-export-demand-2023-10-30/

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