# Summer Soybean Meal Prices Resist New Lows

> July soybean meal closed up $6.80 at $432.90 in the week ended May 12, 2023, despite July soybeans hitting their lowest close since August 2022 and July soybean oil falling below 50 cents. Meal prices held up on Argentina's drought, as the Rosario exchange cut its Argentine soybean crop estimate to 21.5 mmt, the smallest in 23 years.

- Date: 2023-05-15 · published 2023-05-15T12:00:00.000Z
- Category: weather · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/36011-summer-soybean-meal-prices-resist-new-lows
- 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

Argentina's drought-reduced crush supply supports meal prices even as soybeans and oil weaken, so feed buyers face firmer meal costs despite the broader grain selloff.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼
- SOY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2023-05-15 | 5 | -9.3% | -3.2 | July soybean oil fell below 50 cents in the week ended May 12 as soybeans hit their lowest close since August 2022, confirming the weakness in the move window. |
| SOY | 2023-05-18 | 5 | -8.9% | -2.8 | July soybeans hit their lowest close since August 2022 in the week to May 12 despite meal support from Argentina's drought. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2019-05-29 | [Dalian soybean meal prices are up 3% this morning - the](https://feedsoft.ai/events/8251-dalian-soybean-meal-prices-are-up-3-this-morning-the.md) | +2.6% | +0.9% |
| SBM | 2017-12-16 | [Conventional soybean meal prices jump sharply  : The Daily Digest](https://feedsoft.ai/events/67548-conventional-soybean-meal-prices-jump-sharply-the-daily-digest.md) | -2.4% | +1.2% |
| SBM | 2026-08-27 | [European corn, soybean meal prices near historic highs amid supply concerns \| S&P Global](https://feedsoft.ai/events/17959-european-corn-soybean-meal-prices-near-historic-highs-amid-supply-concerns-s.md) | +3.0% | +10.1% |
| SBM | 2022-12-14 | [Concerns over Argentine soybean crop raises meal prices in Brazil - DatamarNews](https://feedsoft.ai/events/38321-concerns-over-argentine-soybean-crop-raises-meal-prices-in-brazil-datamarnews.md) | +0.4% | +11.5% |
| SBM | 2018-01-19 | [Soybean meal pulls soybeans, corn higher - Brownfield Ag News](https://feedsoft.ai/events/12096-soybean-meal-pulls-soybeans-corn-higher-brownfield-ag-news.md) | +3.7% | +13.8% |
| SOY | 2024-01-05 | [New-Crop Soybean Meal Prices Anticipating Larger Argentine Harvest in 2024](https://feedsoft.ai/events/32215-new-crop-soybean-meal-prices-anticipating-larger-argentine-harvest-in-2024.md) | -2.4% | -5.8% |
| SOY | 2026-06-09 | [Mysteel soybean and relatives market daily: DCE M2609 under pressure testing key support, soybean meal spot price hovers near lows \| Mysteel](https://feedsoft.ai/events/5193-mysteel-soybean-and-relatives-market-daily-dce-m2609-under-pressure-testing-key.md) | +0.3% | +7.1% |
| SOY | 2020-12-04 | [New Clues for Soybean Futures](https://feedsoft.ai/events/49686-new-clues-for-soybean-futures.md) | -1.3% | +12.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/technically-speaking/blog-post/2023/05/15/summer-soybean-meal-prices-resist-2

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