Soybean Meal Prices

Soybean Meal Prices December 2023

In the fourth quarter of 2023, the price of soybean meal in the United States reached 838 USD/MT by December. Similarly, in Australia, the soybean meal prices hit 992 USD/MT in the same month. However, Germany witnessed soybean meal prices reaching 946 USD/MT during Q4 2023.

Soybean Meal Price Trend, Market Analysis, and News

IMARC's latest publication, “Soybean Meal Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the soybean meal market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of soybean meal at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed soybean meal price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting soybean meal pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Soybean Meal Market Analysis

The global soybean meal market size reached 258.8 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 355.8 Million Tons, at a projected CAGR of 3.60% during 2023-2032.

• Growing soybean meal consumption within the country, especially from the livestock feed sector is a major factor driving soybean meal demand. The U.S. Department of Agriculture (USDA) projects an upsurge in soybean crush, reaching 2.29 billion bushels in 2024. This increase is thus due to growing livestock farming that needs high protein feed for the animals. Soybean meal also plays an essential role in catering the animal feed requirement more particularly to poultry, swine, and dairy cattle because of its desired protein as well as indispensably necessary amino acid composition. USDA’s view however shows that slightly moderating demand could result from higher domestic prices and reduced growth of livestock, nonetheless, the need to feed on protein-rich feed will continue to fuel demand for soybean meal. Such internal demand is a good base and strong evidence that supports the fact that soybean meal is an essential part of the U. S. market.
• The soybean meal market is experiencing significant growth due to rising exports. According to U.S. Department of Agriculture (USDA), soybean meal exports are expected to rise and touch a record high of 14. 3 million tons in 2023-2024. This has been driven by growing demand from other countries such as Europe and Vietnam, where the livestock farming business is rapidly growing thereby resulting in high demand for soybean meal. Geography has favored the U. S. soybean meal in as much as it is competitively priced and of high quality. Further, there exists the aspect of global trade policies and agreements that support these exports. The USDA has shown forecasts on how the U. S. is capitalizing on this strength to feed the global protein needs through the international soybean meal market.
• The market for soybean meal is significantly influenced by global supply chain trends. The U.S. Department of Agriculture (USDA) reports fluctuations in global oilseed production, such as reductions in rapeseed output in the EU and Australia, influencing the availability and pricing of soybean meal​.  This leads to an influence on global prices, while soybean meal is easier to acquire for importers, it remains questionable and unstable depending on other oilseed markets’ prices. Along with this, climatic factors, geo-political issues, and shifts in policies on agriculture within the major producing nations are among some of the most influential factors. Globalization of markets implies that disruptions in production and supply chains in one part of the world can impact markets widely, positioning global supply dynamics as a key driver of the soybean meal market​.

Soybean Meal News

The report covers the latest developments, updates, and trends impacting the price of soybean meal, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the soybean meal price trend.

Latest developments in the soybean meal industry:

• In June 2024, the Argentine soybean meal basis turned negative for the first time in nearly two years. This shift was influenced by an increased supply of soybean meal, which led to downward pressure on prices.
• In January 2024, China announced plans to further reduce soybean meal usage and lower hog capacity. This action is part of a broader strategy to reduce dependence on soybean imports, particularly from the United States and Brazil, which supply over 88% of China's soybeans.

Product Description

Soybean meal is the processed residue from soybean after the extraction of soybean oil and is commonly used as animal feed containing high protein levels. Following the removal of oil from the soybeans, the solid part is then milled into a very fine powder. This is a good protein source for livestock, poultry, and fish to be used in aquaculture feeds because of the essential amino acids present in this meal. Soybean meal has approximately 44-48% protein and is known to be good in energy, vitamins, and minerals.

Due to these attributes, it is properly adopted in animal nutrition for growth and general well-being in a variety of animal species. High digestibility of the protein component combined with a prerequisite proportion of essential and total amino acids is especially valued for monogastric animals – pigs and poultry. Furthermore, soybean meal also finds its place in some pet foods while it can be added to human foods like protein bars and shakes. This diverseness and nutritional importance are the pillars of the feed’s testamentary position in the global feed market.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the soybean meal price trend. 

Global Soybean Meal Price

The report offers a holistic view of the global soybean meal pricing trends in the form of soybean meal price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of soybean meal, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed soybean meal demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Soybean Meal Price

European soybean meal prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for soybean meal can also be provided for an extensive list of European countries.

North America Soybean Meal Price

The analysis of soybean meal prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific soybean meal historical data within the United States and Canada can also be provided.

Middle East and Africa Soybean Meal Price

The report explores the soybean meal pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Soybean Meal Price

The soybean meal pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This soybean meal price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Soybean Meal Price

The analysis of soybean meal prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of soybean meal pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting soybean meal price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The soybean meal price charts ensure our clients remain at the forefront of the industry.