# Market Snapshot | Soybean meal fades below key support at 200-day moving average - Pro Farmer

> Soybean meal fell about $3.00 and soybeans dropped 14 to 15 cents on November 2, 2026, with soyoil around 50 points lower, as technical selling hit the soy complex. Corn was roughly unchanged after marking a fresh near-term low, and USDA reported corn sales to Mexico and China soybean purchases.

- Date: 2026-11-02 · published 2026-11-02T21:25:08.533Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/76180-market-snapshot-soybean-meal-fades-below-key-support-at-200-day-moving-average
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Weaker soybean meal and soybeans lower feed input costs for buyers, while the pressure from the soy complex is also weighing on corn. The moves appear driven mainly by technical selling rather than a new fundamental cause.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Sources

- profarmer.com: https://www.profarmer.com/pro-farmer-max/market-snapshot/market-snapshot-soybean-meal-fades-below-key-support-200-day-moving-average

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