The Brazilian National Association of Grain Exporters (ANEC) stated that the export volume of Brazilian soybean meal in January 2026 will reach 1.82 million tons, which is the same as the estimate a week ago and higher than the 1.644 million tons in January 2025.

The article shows that Brazil's soybean meal export volume is expected to reach 1.82 million tons in January 2026, an increase of 10.7% year-on-year (compared to 1.644 million tons in January 2025), and remains the same as the estimate a week ago. The increase in export volume indicates sufficient global soybean meal supply, which may lead to increased downward pressure on spot prices, as Brazil, as a major exporting country, supply growth will lower market prices. In terms of futures, the main soybean meal contracts such as 2605 (closing price of 2,725 RMB/ton, up+1) and 2609 (closing price of 2,840 RMB/ton, down -2) reflect recent slight fluctuations, but the news of increased exports may strengthen bearish sentiment, especially affecting forward contract prices. For example, the position of 2609 increased by 21,542 lots, indicating high market attention. The rating is generally negative, as the export growth rate is moderate and has not reached the level of extreme events.

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