Brazil’s soybean meal exports could rise to 2.49 mln tons

Brazil’s soybean meal exports could reach 2.49 mln tons in October 2026, an increase of 763 thsd tons compared with the same period last year. The forecast was released by Brazil’s National Association of Grain Exporters (ANEC). Higher shipments from one of the world’s largest soybean meal exporters could increase global supplies and put additional downward pressure on prices.

The expected growth in Brazilian exports could primarily affect markets that rely heavily on imported soybean meal. In particular, increased global supplies could reduce import costs for China. This may weaken domestic soybean meal prices, as the product is widely used in compound feed production for livestock and poultry.

On the Dalian Commodity Exchange, the most actively traded soybean meal futures contract for January 2027 delivery closed at 3,198 yuan/t on November 2, up 13 yuan/t from the previous trading session. Trading volume reached 745.5 thsd contracts, while open interest stood at 2.032 mln contracts.

Despite the slight increase in futures quotations, the expected rise in Brazilian soybean meal exports could limit further price gains. Higher supplies on the global market are creating additional competition among exporters and could help reduce feed ingredient costs for importers.

Tags: Brazil, soybean meal