# FEATURE: Latin American soybean meal premiums surge to record

> South American FOB soybean meal basis levels hit record highs in September, with Argentina's Up River basis at plus $35/st and Brazil's Paranagua at plus $49/st over CBOT futures. Firm Indian demand for GM soybean meal and Hurricane Ida's effects on US Gulf export facilities drove the rise.

- Date: 2021-09-23 · published 2021-09-23T12:00:00.000Z
- Category: market · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/45141-feature-latin-american-soybean-meal-premiums-surge-to-record
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Record South American meal premiums signal tight export availability and higher landed costs for importers, supporting soymeal prices globally.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/092321-feature-latin-american-soybean-meal-premiums-surge-to-record

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