Data from the U.S. Census Bureau indicates that U.S. soybean meal exports reached 1.882 million tons in March, setting a new historical record for that specific month.

The March export volume of 1.882 million tons—a record high for the period—reflects robust overseas demand for soybean meal. This demand provides support for global soybean meal prices, with the positive impact filtering through to the domestic market to bolster spot prices. In the futures market, the benchmark May 2026 soybean meal contract (code 2609) on the Dalian Commodity Exchange closed on April 30, 2026, at 3,021 RMB per ton—an increase of 7 RMB per ton from the previous trading day. With open interest standing at 2.4935 million lots, favorable demand-side fundamentals continue to underpin a firm trend in soybean meal futures prices.

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