# Inventories Stay High as Soymeal Prices Under Pressure

> China's soymeal futures for the 2701 contract closed at 3,198 yuan per tonne on the prior day, up 15 yuan, while rapeseed meal was at 2,218 yuan, down 21 yuan. Spot soymeal prices in Tianjin, Jiangsu and Guangdong were around 3,150-3,240 yuan per tonne, and Argentina's 2025/26 soybean planting had reached 2.3% of its expected 17 million hectares as of October 28.

- Date: 2026-11-03 · published 2026-11-03T20:02:50.579Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/78374-inventories-stay-high-as-soymeal-prices-under-pressure
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Domestic soymeal prices track import costs, and weaker US soybeans are pressuring them while high oilmill and soybean stocks keep supply loose and feed buyers cautious. Feed buyers should watch US export pace and South American weather, which could reverse the bearish tone.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: neutral

## Sources

- finance.sina.com.cn: https://finance.sina.com.cn/money/future/fmnews/2026-11-03/doc-inixmnqa6760854.shtml

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