# Dire Argentine crop spells opportunity for US soymeal exporters

> CBOT December soybean meal futures hit a contract high of $439.40 per short ton on Wednesday, up more than 16% in two weeks. Meal prices are at their highest for the week since 2012 and nearby contracts trade at a steep premium to deferred ones.

- Date: 2023-10-27 · published 2023-10-27T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/33687-dire-argentine-crop-spells-opportunity-for-us-soymeal-exporters
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rising U.S. export demand and sharply reduced Argentine supplies tighten the global meal market, supporting U.S. meal prices and crush margins.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/dire-argentine-crop-spells-opportunity-us-soymeal-exporters-2023-10-27/

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