China's soybean oil exports in January-September 2026 more than tripled year on year to nearly 800 thousand tons. Commercial soybean oil inventories reached about 1.5 million tons as of October 30, the highest for that period since at least 2024, as heavy crushing outpaced subdued domestic demand.
Large Chinese exports and heavy stocks add supply to the global soybean oil market, which is bearish for soybean oil prices. Continued high crush rates also keep soybean meal supplies ample.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.