← Soybean Meal Futures overview

Soybean Meal Futures vs Soybean Oil Futures: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Soybean Meal Futures (SOYMEAL.COMM)

Q3 2026
▲2▼2

Soymeal swings on weather, export demand, then broad selloff

  • Dry July weather lifted soy complex Forecasts for a dry start to July in key U.S. growing areas raised concerns about the soybean crop, pushing soybean and soymeal futures higher. Less rain can shrink the crop, tightening supply and supporting soymeal prices.

    Weather is a major supply force that pushed soymeal up early in the period.

  • Strong export demand for soybeans and meal U.S. soybean export sales hit multi-week and marketing-year highs, with big purchases from China and unknown destinations. Soymeal sales also stayed within trade estimates. Strong demand for beans supports soymeal because meal is a key product made from crushing soybeans.

    Export demand is a core demand driver that supported soymeal prices.

  • Late-July broad selloff in soy complex Soybean and soymeal futures plunged as crude oil tumbled and speculative traders held a large net long position, triggering a wave of selling. A sharp drop in energy prices can reduce demand for soy-based biofuels, adding pressure to the whole soy complex.

    This was the period's biggest price-moving event, dragging soymeal sharply lower.

  • China to auction state soybean reserves China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans. If the auction supplies the market, it could reduce China's near-term demand for imported U.S. soybeans, softening demand for soymeal and weighing on prices.

    This new supply event could reduce demand for U.S. soybeans and soymeal.

July 2026
▲2▼2

Soymeal swings on weather, export demand, then broad selloff

  • Dry July weather lifted soy complex Forecasts for a dry start to July in key U.S. growing areas raised concerns about the soybean crop, pushing soybean and soymeal futures higher. Less rain can shrink the crop, tightening supply and supporting soymeal prices.

    Weather is a major supply force that pushed soymeal up early in the period.

  • Strong export demand for soybeans and meal U.S. soybean export sales hit multi-week and marketing-year highs, with big purchases from China and unknown destinations. Soymeal sales also stayed within trade estimates. Strong demand for beans supports soymeal because meal is a key product made from crushing soybeans.

    Export demand is a core demand driver that supported soymeal prices.

  • Late-July broad selloff in soy complex Soybean and soymeal futures plunged as crude oil tumbled and speculative traders held a large net long position, triggering a wave of selling. A sharp drop in energy prices can reduce demand for soy-based biofuels, adding pressure to the whole soy complex.

    This was the period's biggest price-moving event, dragging soymeal sharply lower.

  • China to auction state soybean reserves China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans. If the auction supplies the market, it could reduce China's near-term demand for imported U.S. soybeans, softening demand for soymeal and weighing on prices.

    This new supply event could reduce demand for U.S. soybeans and soymeal.

Latest
▲2▼2

Soymeal swings on weather, export demand, then broad selloff

  • Dry July weather lifted soy complex Forecasts for a dry start to July in key U.S. growing areas raised concerns about the soybean crop, pushing soybean and soymeal futures higher. Less rain can shrink the crop, tightening supply and supporting soymeal prices.

    Weather is a major supply force that pushed soymeal up early in the period.

  • Strong export demand for soybeans and meal U.S. soybean export sales hit multi-week and marketing-year highs, with big purchases from China and unknown destinations. Soymeal sales also stayed within trade estimates. Strong demand for beans supports soymeal because meal is a key product made from crushing soybeans.

    Export demand is a core demand driver that supported soymeal prices.

  • Late-July broad selloff in soy complex Soybean and soymeal futures plunged as crude oil tumbled and speculative traders held a large net long position, triggering a wave of selling. A sharp drop in energy prices can reduce demand for soy-based biofuels, adding pressure to the whole soy complex.

    This was the period's biggest price-moving event, dragging soymeal sharply lower.

  • China to auction state soybean reserves China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans. If the auction supplies the market, it could reduce China's near-term demand for imported U.S. soybeans, softening demand for soymeal and weighing on prices.

    This new supply event could reduce demand for U.S. soybeans and soymeal.

Soybean Oil Futures (SOYOIL.COMM)

Q3 2026
▲2▼2

Soy oil swings on crush, exports, weather, crude

  • June crush beats expectations, soy oil stocks drop NOPA reported a record-large June soybean crush of 214.34 million bushels, well above trade estimates. Soy oil stocks fell to 1.5 billion pounds, below expectations and down 13.5% from May. Tighter oil supplies support higher soy oil prices.

    This is the clearest new supply-side force tightening soy oil availability and lifting prices.

  • Strong soybean export demand lifts the whole complex USDA reported private soybean sales to China and unknown buyers, and forward 2026/27 bookings hit 1.537 million metric tons, nearly triple last year. Rabobank cut Brazil's crop estimate. Strong bean demand pulls soy oil up with it.

    Export demand is a major new demand-side driver pulling soy oil higher alongside soybeans.

  • Weather and crude oil slump trigger sharp selloff Soybeans and soy oil tumbled as US crop conditions stayed mostly good and crude oil plunged over $7, making soy oil-based biodiesel less competitive. Speculative funds had built a large bullish position, amplifying the drop.

    This is the main new counterweight, showing weather and energy markets can quickly reverse soy oil gains.

  • China to auction imported soybeans, adding supply China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans on Friday. This could ease Chinese demand for fresh US soybeans and soy oil, weighing on prices.

    A new potential demand headwind from China, the top soybean buyer, that could pressure soy oil.

July 2026
▲2▼2

Soy oil swings on crush, exports, weather, crude

  • June crush beats expectations, soy oil stocks drop NOPA reported a record-large June soybean crush of 214.34 million bushels, well above trade estimates. Soy oil stocks fell to 1.5 billion pounds, below expectations and down 13.5% from May. Tighter oil supplies support higher soy oil prices.

    This is the clearest new supply-side force tightening soy oil availability and lifting prices.

  • Strong soybean export demand lifts the whole complex USDA reported private soybean sales to China and unknown buyers, and forward 2026/27 bookings hit 1.537 million metric tons, nearly triple last year. Rabobank cut Brazil's crop estimate. Strong bean demand pulls soy oil up with it.

    Export demand is a major new demand-side driver pulling soy oil higher alongside soybeans.

  • Weather and crude oil slump trigger sharp selloff Soybeans and soy oil tumbled as US crop conditions stayed mostly good and crude oil plunged over $7, making soy oil-based biodiesel less competitive. Speculative funds had built a large bullish position, amplifying the drop.

    This is the main new counterweight, showing weather and energy markets can quickly reverse soy oil gains.

  • China to auction imported soybeans, adding supply China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans on Friday. This could ease Chinese demand for fresh US soybeans and soy oil, weighing on prices.

    A new potential demand headwind from China, the top soybean buyer, that could pressure soy oil.

Latest
▲2▼2

Soy oil swings on crush, exports, weather, crude

  • June crush beats expectations, soy oil stocks drop NOPA reported a record-large June soybean crush of 214.34 million bushels, well above trade estimates. Soy oil stocks fell to 1.5 billion pounds, below expectations and down 13.5% from May. Tighter oil supplies support higher soy oil prices.

    This is the clearest new supply-side force tightening soy oil availability and lifting prices.

  • Strong soybean export demand lifts the whole complex USDA reported private soybean sales to China and unknown buyers, and forward 2026/27 bookings hit 1.537 million metric tons, nearly triple last year. Rabobank cut Brazil's crop estimate. Strong bean demand pulls soy oil up with it.

    Export demand is a major new demand-side driver pulling soy oil higher alongside soybeans.

  • Weather and crude oil slump trigger sharp selloff Soybeans and soy oil tumbled as US crop conditions stayed mostly good and crude oil plunged over $7, making soy oil-based biodiesel less competitive. Speculative funds had built a large bullish position, amplifying the drop.

    This is the main new counterweight, showing weather and energy markets can quickly reverse soy oil gains.

  • China to auction imported soybeans, adding supply China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans on Friday. This could ease Chinese demand for fresh US soybeans and soy oil, weighing on prices.

    A new potential demand headwind from China, the top soybean buyer, that could pressure soy oil.

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