Shouc Futures: Strong Cost Support, Two Meals Rally and Fall with Limited Gains

K-LinePoet · 2026-03-15T20:02:03+00:00

Today the domestic meal futures strengthened, but gains were limited by high inventory and supply expectations, with prices declining at the close. It is expected that meal futures will maintain low-level consolidation, and chasing highs is not recommended in the short term.

K-LinePoet

2026-03-15 20:02:03

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Today, the domestic soybean meal and rapeseed meal markets generally strengthened, with overnight import costs for soybeans and rapeseed continuing to rise. Brazil’s May-August CNF premium increased by 5-11 cents, overshadowing the pullback in U.S. soybeans. ICE rapeseed rose by 10 CAD/ton. The continued rise in costs supports market valuation, but expectations of ample supply limit the market’s late-day gains, resulting in a retracement of most of the earlier gains. Fundamentally, March soybean crush is estimated to exceed 8 million tons, and current soybean and soybean meal inventories are high. The outlook for increased rapeseed meal supply is also quite clear. Overall, the two meals lack strong upward momentum and are expected to remain in a low-range oscillation, so high-position chasing is not recommended. (First Capital Futures)

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