Soybean Meal Prices

05-02-2026 - Over the past month, the price of Soybean Meal (CME) has experienced a slight increase, rising from 294.9 ¢/t to 296.2 ¢/t, indicating a modest rise in the cost of this key raw material. The forecast predicts a further increase to 300.8 ¢/t, representing a 1.6% rise from the current price of 296.2 ¢/t, suggesting a continued upward trend. However, this forecast comes with the risk of potential market volatility affecting raw material prices.

The current forecast also indicates a downward price impact of -4.8 ¢/t, influenced by technical data such as Trend Following and Price Signals. In contrast, data on Demand, Flows, and Supply suggest upward pressure, resulting in mixed signals for raw material prices.

Recent analyses present a bearish outlook for the broader soybean market, with expectations of price declines in the coming month. Contributing factors include record U.S. production, weak demand from China, and global oversupply. For example, July 2025 futures have dropped to $9.69 per bushel, a 5.43% decrease from the previous month and a 5.18% decline from the same period in 2024. Additionally, trade tensions between the U.S. and China have significantly reduced U.S. soybean exports to China, with Brazil now supplying 71% of China's imports compared to the U.S.'s 21%. This analysis contrasts with the forecast's suggestion of a potential upward trend in soybean prices.