ShouChuang Futures: Supply concerns increase, nearby soybean meal and soybean oil prices surge significantly

K-LinePoet · 2026-03-26T19:00:06+00:00

Today, domestic soybean meal and soybean futures prices surged significantly, with increases of over 3%. Market concerns about supply shortages have intensified, influenced by the Middle East conflict and delays in South American soybean shipments. At the same time, short-term policy-related purchases of U.S. soybeans remain uncertain, and rising costs further support the market. Overall, it is recommended to exercise caution when operating at high levels.

K-LinePoet

2026-03-26 19:00:06

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Today, the domestic market saw significant gains in both soybean meal and soybeans. The nearby month soybeans, soybean meal, and rapeseed meal all rose by more than 3%. Market concerns about supply in late March and early April have deepened, with the Middle East conflict disrupting shipping markets. The risk of delays on the South American soybean Cape route has increased, and queueing in Singapore could cause delays of 3-5 days. Meanwhile, rumors circulated last night that policy-driven soybean purchases in the U.S. will not enter the market in the short term, which aligns with the delayed implementation of storage release expectations after the holiday. Additionally, on the cost side, overnight U.S. soybeans strengthened again, and South American basis spreads stopped falling and rebounded, further supporting price increases driven by costs. Overall, cost factors and near-term supply concerns continue to drive bullish momentum, but the market faces key short-term uncertainties such as U.S.-China negotiations, whether China will make additional U.S. soybean purchases, and domestic supply policies. It is advised to remain cautious when chasing high positions. (First Capital Futures)

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