US soybean meal prices fell *.*** in May **** as expanded domestic crush and competitive South American export activity combined to ease nearby offers. Early May saw USDA revisions to old-crop carry-in stocks and faster spring planting, encouraging processors to ramp up crush runs. Crushers ran at close-to-full utilisation through mid-May and barge logistics on the Mississippi River remained reliable, supporting steady flows to export channels. Mid-month Soybean meal inventory builds at Chicago terminals and aggressive Argentine spot sales in the South American marketing window increased export competition, nudging Chicago FOB offers lower into late May as domestic availability outpaced nearby demand.
Soybean Meal demand patterns across key feed sectors contrasted sharply in May. The poultry (broiler) sector remained soft, with broiler meat production guidance held flat and limiting incremental soybean meal offtake for broiler rations, while pork producers marginally shifted to higher corn inclusion...
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