# High Domestic Inventories Continue to Weigh on Soybean Meal as Rapeseed Meal and Oil Prices Diverge

> Chinese soybean-meal inventories reached 1.389 million tonnes at the end of October, up 7.26% week over week and 39.13% year over year, with ample imports and high crushing rates adding to supply. Canadian canola harvest supply is increasing, while domestic rapeseed-meal stocks were recovering as imports arrived; the report said meal prices were likely to remain range-bound, while canola oil was supported by Black Sea export constraints and El Niño concerns.

- Date: 2026-11-06 · published 2026-11-08T07:36:29.183Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/87251-high-domestic-inventories-continue-to-weigh-on-soybean-meal-as-rapeseed-meal
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Abundant soybean-meal stocks and ongoing supply pressure are bearish for meal prices and may keep feed protein costs contained. Increasing rapeseed-meal arrivals also limit upside, although the report describes low stocks as a near-term support.

## Read by commodity

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

## Sources

- quheqihuo.com: https://www.quheqihuo.com/qhyb/2026110632689.html

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