# Soymeal: Lack of Drivers, Weakness Persists Both Domestically and Externally

> Dalian-style soymeal commentary says US soybean harvest is nearly complete, with harvest pressure entering its seasonal tail and fund net-long positions still being reduced. Brazil's real has depreciated sharply, making Brazilian beans more competitive, while Chinese buying and US biodiesel demand provide some support. Domestic soymeal supply is ample and crush mills are running high, but feed demand is weak.

- Date: 2026-11-03 · published 2026-11-05T07:36:33.610Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/81373-soymeal-lack-of-drivers-weakness-persists-both-domestically-and-externally
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A weaker real and abundant South American supply lower the cost of imported beans and add pressure on soymeal prices, while Chinese crush margins and inventories keep domestic meal supply heavy.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- finance.sina.com.cn: https://finance.sina.com.cn/money/future/2026-11-03/doc-inixncmx8647916.shtml

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