Soybeans end lower after choppy session while soymeal surges

U.S. soybean futures closed modestly lower on Thursday after a choppy session while surging cash prices for soymeal, a feed ingredient, underpinned the market, analysts said. Chicago Board of Trade November soybean futures **SX26** settled down 3/4 cent, or 0.06%, at **$13.19-3/4 per bushel**, staying below last week's contract high of **$13.35-1/4**. Benchmark CBOT December soymeal **SMZ26** ended up **$5.70**, or **1.6%**, at **$371.30 per ton**, after reaching **$375.60**, the highest on a continuous chart of the most-active contract **SMv1** since May 2024. Supplies of soymeal, a high-protein soybean product used in livestock and poultry rations, have tightened in the U.S. Midwest in recent weeks. Soybean processing plants in the region typically shut for routine seasonal maintenance ahead of the autumn soybean harvest, but this year's downtime appeared to be more extensive than expected, brokers said, limiting production of soymeal and soyoil. Then, heavy rains stalled the early harvest this week in key states like Iowa, slowing the arrival of soybeans into processing sites. "Meal is the market of the moment, for sure," said Terry Linn, analyst with Linn & Associates. "I see it being driven by technical buying and a bit of seasonal supply tightening from processor maintenance that ... is forcing users to scramble for coverage," Linn said. Corn and wheat futures were more subdued, pressured by a sluggish crude oil **CLc1** market and lingering hopes of a diplomatic breakthrough to ease disruptions to Black Sea grain trade. CBOT December corn **CZ26** ended down 3-3/4 cents, or 0.7%, at **$5.30-1/2 a bushel** and December wheat **WZ26** fell 3-3/4 cents, or 0.5%, to finish at **$7.27 a bushel**. Wheat traders said an AFP report, which cited a Turkish proposal sent to Russia and Ukraine for a truce on strikes against commercial shipping in the Black Sea, put attention back on de-escalation prospects. However, traders were cautious given that Turkey has already flagged such proposals, while a deal to halt strikes on energy infrastructure announced by U.S. President Trump on Monday had little effect on the ground.

Soybeans end lower after choppy session while soymeal surges

Soybeans close modestly lower as soymeal jumps

Tight meal supplies and harvest delays support prices

Corn and wheat end lower on softer energy and trade hopes

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