# BOYAR Observation: Soymeal Rises 70-80 Yuan/Tonne as Surprise Supply-Demand Report Bullish, Prices Bottom Out

> On November 10 USDA's November report lifted US soybean yield and exports and cut ending stocks, and CBOT soybeans jumped. Domestic soymeal spot rose 70-80 yuan per tonne on November 11, and futures reached 3169 yuan per tonne, though China's meal stocks remain high at about 1.31 million tonnes.

- Date: 2026-11-11 · published 2026-11-12T09:15:45.531Z
- Category: report · region China · magnitude medium
- Page: https://feedsoft.ai/events/95333-boyar-observation-soymeal-rises-70-80-yuan-tonne-as-surprise-supply-demand
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher US soybean prices raise import costs and support domestic meal prices, but record Chinese meal inventories and weak end-user demand cap the gains.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-03-10 | [Few Surprises in Supply/Demand Report \| Red River Farm Network](https://feedsoft.ai/events/42238-few-surprises-in-supply-demand-report-red-river-farm-network.md) | -2.2% | -4.0% |
| SOY | 2025-08-14 | [Soybean Prices Reverse Losses on Bullish WASDE - American Soybean Association](https://feedsoft.ai/events/12450-soybean-prices-reverse-losses-on-bullish-wasde-american-soybean-association.md) | -0.8% | -0.8% |
| SOY | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +0.8% | +2.0% |
| SOY | 2026-04-13 | [Crush Demand Drives Soy Complex Higher as USDA Raises Price Outlook - American Soybean Association](https://feedsoft.ai/events/15037-crush-demand-drives-soy-complex-higher-as-usda-raises-price-outlook-american.md) | -0.7% | +1.6% |
| SOY | 2020-11-10 | [November 10 USDA Supply/Demand Report Recap - ADM Investor Services](https://feedsoft.ai/events/50093-november-10-usda-supply-demand-report-recap-adm-investor-services.md) | +4.4% | +3.7% |
| SBM | 2025-08-14 | [Soybean Prices Reverse Losses on Bullish WASDE - American Soybean Association](https://feedsoft.ai/events/12450-soybean-prices-reverse-losses-on-bullish-wasde-american-soybean-association.md) | +3.1% | +1.1% |
| SBM | 2020-11-10 | [November 10 USDA Supply/Demand Report Recap - ADM Investor Services](https://feedsoft.ai/events/50093-november-10-usda-supply-demand-report-recap-adm-investor-services.md) | +1.4% | -0.6% |
| SBM | 2026-05-14 | [New Crop Soybeans Top $12 as USDA Raises Demand Outlook - American Soybean Association](https://feedsoft.ai/events/19297-new-crop-soybeans-top-12-as-usda-raises-demand-outlook-american-soybean.md) | -2.8% | -12.8% |

## Sources

- 163.com: https://www.163.com/dy/article/LBFM28AL05568W0A.html

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