# Surge in Soymeal

> Soybean meal futures have rallied over $70 per ton in five weeks to 18-month highs, lifting cash meal, canola meal and DDG prices. The surge is tied to worsening Argentine drought and heavy fund buying, with funds reportedly holding their largest soymeal long ever.

- Date: 2018-02-21 · published 2018-02-21T12:00:00.000Z
- Category: market · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/66585-surge-in-soymeal
- Commodities: [DDGS](https://feedsoft.ai/c/DDGS.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Argentina is the largest exporter of soymeal, so lower Argentine output shifts export demand toward U.S. meal and supports protein meal prices that feed buyers pay. The soymeal/corn ratio has reached its highest since August 2016, making meal relatively expensive versus corn.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- DDGS: bullish ▲
- CANMEAL: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/fundamentally-speaking/blog-post/2018/02/21/surge-soymeal

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