# Arbitrage: Soybean Meal–Rapeseed Meal Spread at a Record High; Soybean Meal Looks Overvalued

> The soybean meal–rapeseed meal futures spread reached 911 on November 5, with soybean meal at 3,121 yuan per tonne and rapeseed meal at 2,210 yuan per tonne. The article says the spread is historically high and may narrow as rapeseed meal substitutes for soybean meal, favoring a short soybean meal/long rapeseed meal spread trade.

- Date: 2026-11-05 · published 2026-11-06T01:36:55.178Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/83094-arbitrage-soybean-meal-rapeseed-meal-spread-at-a-record-high-soybean-meal-looks
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A wide price premium could shift feed demand toward rapeseed meal and weigh on soybean meal relative to rapeseed meal. The stated implication is spread convergence, not necessarily a broad move in either market.

## Read by commodity

- SBM: bearish ▼
- CANMEAL: bullish ▲

## Sources

- news.10jqka.com.cn: http://news.10jqka.com.cn/20261105/c681500797.shtml

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