• USDA projects the 2026/27 U.S. soybean meal season‑average price at about $310 per short ton, slightly below 2025/26 (down $5), implying a relatively stable to mildly softer price environment into mid‑2026 assuming normal weather. • U.S. soybean crush in 2026/27 is forecast to rise to 2.75 billion bushels (up 120 million), driven mainly by strong soybean oil demand for biofuel, which in turn increases soybean meal output and keeps meal supplies ample. • USDA’s grains and oilseeds outlook notes that with normal weather, oilseed meal supplies (including soybean meal) are expected to be ample i
• USDA projects the 2026/27 U.S. soybean meal season‑average price at about $310 per short ton, slightly below 2025/26 (down $5), implying a relatively stable to mildly softer price environment into mid‑2026 assuming normal weather. • U.S. soybean crush in 2026/27 is forecast to rise to 2.75 billion bushels (up 120 million), driven mainly by strong soybean oil demand for biofuel, which in turn increases soybean meal output and keeps meal supplies ample.
• USDA’s grains and oilseeds outlook notes that with normal weather, oilseed meal supplies (including soybean meal) are expected to be ample in 2026/27 even as domestic meal use and exports expand, limiting upside price risk for meal. • USDA’s May 2026 WASDE and commentary indicate only a modest seasonal rise in soybean‑complex prices; the U.S.
season‑average soybean meal price estimate was recently raised to about $310/short ton, but still signals a relatively balanced market rather than a tight one. • Global oilseed meal trade for 2026/27 is forecast at record levels: total oilseed meal trade 119 million tons, with soybean meal exports up about 5% to 88 million tons and total meal consumption up around 3% to 405 million tons, reflecting firm but not explosive demand growth in livestock, poultry, and aquaculture feed.
• Expanded crushing capacity and strong harvests in Brazil and the U.S. are expected to boost soybean meal availability globally, which should moderate stronger price spikes unless weather or policy shocks occur
Procurement teams should maintain flexible sourcing strategies for Soybean Meal given the evolving market dynamics. Monitor supply-side developments, inventory trends, and demand signals from end-use sectors. Consider layered hedging against price volatility and diversify supplier exposure to manage risk.