EU soybean meal prices fell on expectations of supplies from Brazil

Dutch soybean meal prices fell sharply, down 3.37% from the previous week, as expectations of sufficient supplies from Brazil weighed on the market.

On January 19, Platts assessed soybean meal FOB Netherlands at €313.25/metric tonne for February-March loading, down €10.75/metric tonne from the previous week.

According to market participants, the European market entered 2026 with weak demand for January and February shipments, as buyers largely secured supplies early in anticipation of the EU Deforestation Regulation.

“Demand for January and February was lower because buyers had already built up stocks in anticipation of the EU Deforestation Regulation,” said a Dutch trader.

Sentiment became more pessimistic following the release of the latest USDA report, which confirmed expectations for a record soybean harvest in Brazil.

“With expected increases in Brazilian supplies, bid prices are declining,” another trader said.

Market participants noted that prices for March-April have fallen, with buyers continuing to take a wait-and-see approach. “The market has not yet bottomed out, and buyers still expect further declines,” the broker said.

Brazil Dominates Imports

According to market participants, Brazil has remained the largest supplier of soybean meal to the EU over the past five years due to competitive prices.

According to European Commission data, Brazil accounted for more than 44% of all soybean meal imports into the EU over the past five years, peaking in the MY 2023-24 (July-June), when its share rose to nearly 60%, its highest level in five years.

“Brazil is the dominant supplier to the EU due to its price competitiveness,” said a Dutch trader.

According to European Commission data, soybean meal imports into the EU from July to October in the 2025-2026 crop year totaled 7.313 million tonnes, up 10.8% from 6.24 million tonnes in the same period in the 2024-2025 crop year.

Tags: prices, soybean meal, Netherlands, Brazil, EU