# Mhy20261102 Soymeal Evening Commentary: Soymeal Inventory Up Over 20% Year on Year, Hitting a Yearly High of 1.389 Million Tons

> Mysteel data show soymeal inventories at major Chinese crushers rose 9.4 million tons week on week to 1.389 million tons in week 44, up 20.5% year on year. Soybean crush fell to 2.13 million tons, below estimates, and the crush rate was 57.86%. Brazil's Mato Grosso soybean planting reached 89% and Brazil's national planting reached 56.4% as of 30 October.

- Date: 2026-11-03 · published 2026-11-03T13:37:09.896Z
- Category: market · region China · magnitude medium
- Page: https://feedsoft.ai/events/77781-mhy20261102-soymeal-evening-commentary-soymeal-inventory-up-over-20-year-on
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rising soymeal stocks alongside lower apparent consumption and weaker crush point to bearish pressure on soymeal prices. Faster Brazilian planting and a larger harvest outlook add to supply expectations ahead.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- chinafeedm.com: http://www.chinafeedm.com/h-nd-32730.html

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