# Feed costs fall about 2% as soybean meal and corn slip, Oct 30 close

Least-cost template feed formulas fell 1-2.7% in the week to Oct 30 as soybean meal dropped 1.1% and corn 0.5%. Brent at $117.64 and heavy fund length in soy keep price risk alive.

Published 2026-11-02 by the Feedsoft Markets Desk. Covers: SBM, CORN, SBO, SOY, FISHMEAL, BRENT, HOGS, FCATTLE.

Video (24s): https://feedsoft.ai/media/social/1/tiktok-722b688bf6.mp4

## Transcript

- **Your feed bill just got cheaper** Template least-cost feed formulas fell 1-2.7% in the week to Oct 30. Over four weeks, the drop is about 3-5%.
- **Two ingredients did the work** Soybean meal fell 1.1% to $396.63/t. Corn slipped 0.5% to $214.32/t. Broiler grower dropped 1.8% to $288.9/t.
- **But the risk is still there** Brent is $117.64, up 85% from a year ago. Funds are still heavily long the soy complex. Prices can turn.
- **Fishmeal is at a 52-week high** At $2,916/t, fishmeal is pricey. For aqua or young-animal diets, soybean meal may be the cheaper protein.
- **Feed costs fell about 2% this week** Least-cost template formulas dropped 1-2.7% in the week to Oct 30, and about 3-5% over four weeks.
- **Meal and corn did the work** Soybean meal fell 1.1% to $396.63/t and corn 0.5% to $214.32/t. Broiler grower fell 1.8% to $288.9/t.
- **Swine creep still costs the most** At $484.4/t it is the priciest template formula, down only 1.5%. These are templates, not any mill's actual cost.
- **The risk hasn't gone away** Brent is $117.64, up 85% y/y, and funds are heavily long soy. Corn export commitments are 28% of target vs a 40% five-year average.
- **Takeaway: easing, not all clear** Cheaper meal and corn eased costs. Energy and fund positioning keep price risk alive. Fishmeal at $2,916/t may make soybean meal the cheaper protein.

Full analysis: https://feedsoft.ai/brief/2026-11-01

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