# November soybean meal market outlook and price trend forecast

> Analysts at Zhuochuang expect China's 43% soybean meal spot prices to fall first and then consolidate in November, with a monthly range of 3180-3300 yuan/ton. October averaged 3310 yuan/ton, down 1.15% month on month, after the USDA report surprised bearishly and US soybean selling and a weaker Brazilian real pressured costs. Domestic soybean arrivals are forecast at 9.2 million tonnes, and weak hog margins and substitution by other meals are limiting demand.

- Date: 2026-11-05 · published 2026-11-05T07:36:19.595Z
- Category: market · region China · magnitude medium
- Page: https://feedsoft.ai/events/81371-november-soybean-meal-market-outlook-and-price-trend-forecast
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Ample imported soybean supply, high crush-plant inventories and weak feed demand point to lower domestic meal prices, while cost support from crush losses limits the downside.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- USDBRL: neutral

## Sources

- 7hcn.com: https://www.7hcn.com/article/486204-1.html

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