# Protein Meals: Falling Energy Prices Weaken U.S. Soybeans; China’s Soybean Meal Stocks Continue to Build

> A November 4 market report linked weaker U.S. soybean prices to falling energy prices, which reduced soybean oil’s biodiesel economics and lowered crush demand. In China, soybean meal inventories had risen to 1.389 million tonnes amid weak livestock profitability, large feed-sector stocks, delayed customs clearance for imported beans, and government soybean auctions; Canadian canola supplies were also expected to increase.

- Date: 2026-11-04 · published 2026-11-06T01:36:55.546Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/83098-protein-meals-falling-energy-prices-weaken-u-s-soybeans-china-s-soybean-meal
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Lower energy prices weaken biodiesel-related demand for soybean oil and can reduce soybean crushing support, while rising Chinese meal stocks and sluggish feed demand pressure soybean meal. Ample Canadian canola supply and softer seasonal aquaculture demand also weigh on rapeseed meal, though low inventories may limit its downside.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-05-04 | [China not purchasing soybeans from the U.S. is not new](https://feedsoft.ai/events/65060-china-not-purchasing-soybeans-from-the-u-s-is-not-new.md) | -2.9% | -2.1% |
| SOY | 2020-03-10 | [Corn, soybean prices fall, equity markets collapse \| TSLN.com](https://feedsoft.ai/events/11275-corn-soybean-prices-fall-equity-markets-collapse-tsln-com.md) | -4.8% | -0.9% |
| SOY | 2024-10-28 | [China's weakening yuan set to snap three straight months of gains in Oct](https://feedsoft.ai/events/28078-china-s-weakening-yuan-set-to-snap-three-straight-months-of-gains-in-oct.md) | -0.5% | -0.4% |
| SOY | 2024-05-31 | [China's Yuan Weakens Amid Manufacturing Contraction - Finimize](https://feedsoft.ai/events/30491-china-s-yuan-weakens-amid-manufacturing-contraction-finimize.md) | -0.8% | -4.9% |
| SOY | 2022-07-07 | [What Do Recent Falling Feed Prices Mean For Dairy Producers? - EDairy News English](https://feedsoft.ai/events/8551-what-do-recent-falling-feed-prices-mean-for-dairy-producers-edairy-news-english.md) | +0.5% | -1.4% |
| SBO | 2017-08-30 | [Strong euro supports biodiesel prices despite falling veg oils  : The Daily Digest](https://feedsoft.ai/events/69542-strong-euro-supports-biodiesel-prices-despite-falling-veg-oils-the-daily-digest.md) | +2.7% | -3.7% |
| SBO | 2022-02-28 | [Soymeal Demand Slowing in China](https://feedsoft.ai/events/42704-soymeal-demand-slowing-in-china.md) | +4.7% | +0.5% |
| SBO | 2025-04-07 | [Palm and soybean oil prices fell by 4.4-5.9% amid a 14.5% drop in oil prices in two days](https://feedsoft.ai/events/9630-palm-and-soybean-oil-prices-fell-by-4-4-5-9-amid-a-14-5-drop-in-oil-prices-in.md) | +2.0% | +5.6% |

## Sources

- quheqihuo.com: https://www.quheqihuo.com/news/202611044499921.html

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