# Soybean Meal Market Primarily Driving Soybean Prices

> At Ag Processing's annual meeting, analysts said crush margins exceeded $3 per bushel with soybeans in the low $15s, supported by meal and oil values of $11.43 and $6.94 per bushel. Oil now represents 38% of soybean value. Analysts said soybean meal remains the main price driver because of strong pork, poultry and egg demand.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/37368-soybean-meal-market-primarily-driving-soybean-prices
- 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

Strong meal demand from livestock and poultry producers sustains crush activity and supports soybean meal prices for feed buyers. The commentary is a general outlook rather than a new shock.

## Read by commodity

- SBM: bullish ▲
- SBO: neutral
- SOY: bullish ▲

## Sources

- iasoybeans.com: https://www.iasoybeans.com/newsroom/article/strong-oilseed-prices-not-enough-to-shift-balance-of-23-us-corn-soy-acres

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