A survey shows that analysts expect net export sales of US soybean meal for the 2025/26 marketing year to be between 50,000 and 450,000 tons for the week ending October 30, 2025.

Analysts' forecast of net export sales of US soybean meal for the 2025/26 marketing year between 50,000 and 450,000 tons, with the upper end of the range, indicates strong potential demand. This will have a positive impact on spot prices, as increased export sales typically reflect active international buyers, pushing up expectations of tight supply and demand. Combined with the latest soybean meal futures data (e.g., the settlement price of the 2601 contract was 3,039 RMB/ton, up +11), the expectation of increased demand may support higher futures prices, especially with the increased trading volume of the main contract (1,486,303 lots), indicating a bullish market sentiment, but the wide range introduces uncertainty.

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