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Key Takeaway
US Soybean Meal (48% Protein) Chicago First-Contract Futures prices increased from US$ 350.35/MT in October 2024 to US$ 488.27/MT in September 2026, a gain of 39.4%. Prices declined to a low of US$ 245.54/MT in July 2025 before recovering through the remainder of the period, with a particularly strong increase during August–September 2026. The trend indicates a strong upward movement in the quoted benchmark.
- Chicago soybean meal futures are influenced by soybean production, crushing volumes, meal inventories, and demand from poultry, livestock, and aquaculture feed manufacturers. Weather conditions and harvest outcomes in the United States, Brazil, and Argentina affect soybean availability and the supply of meal produced through crushing.
- Changes in livestock production and feed formulation can alter demand for high-protein ingredients, while competition from canola meal, sunflower meal, and other protein sources influences purchasing decisions. Soybean oil prices, processor margins, export demand, trade policy, and futures-market expectations also affect soybean meal prices.
About This Dataset
This dataset tracks Chicago soybean meal futures for the first forward contract, with a minimum protein specification of 48%, quoted in US dollars per metric ton. It supports analysis of feed-protein prices and crushing-market dynamics, including soybean availability, meal demand, livestock-feed consumption, and the relationship between soybean, meal, and oil values.
Methodology
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