Data released by Brazil's Secretariat of Foreign Trade (SECEX) indicates that Brazil's soybean meal exports in June 2026 surpassed those of the same period last year. Export volume for the period of June 1–30 totaled 2.6 million tonnes, compared to 1.9 million tonnes in June 2025.

The export volume of 2.6 million tonnes represents a 36.8% year-on-year increase from the 1.9 million tonnes recorded in June 2025. This signals ample soybean meal supplies in South America and abundant global availability; expectations of increased domestic imports of soybean meal are likely to exert downward pressure on spot prices. Regarding futures, the benchmark soybean meal contract (2609) on the Dalian Commodity Exchange closed at 3,026 RMB/tonne on July 6, 2026—up 36 RMB/tonne from the previous trading day—with open interest rising by 20,725 lots. However, this bearish news regarding export surges may limit the potential for further gains in soybean meal futures prices.

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