The CBOT soybean meal futures contract saw a significant decline during overnight trading, as market expectations for increased U.S. soybean exports were dampened. The National Oilseed Processors Association (NOPA) released its crush report for February 2026, indicating that U.S. soybean crush volumes exceeded all analyst expectations, with average daily crush volumes surging to record highs. Meanwhile, soybean oil inventories expanded to their highest levels since April 2020.