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China soybean and relatives market daily: The sharp rise in the main soybean meal futures contract significantly boosted domestic soybean meal spot prices

Source: Mysteel Apr 22, 2026 13:57
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Soybean Soybean Meal Demand Price Supply
CBOT soybean prices rose, driven by technical buying and higher oil prices, according to traders. Additionally, forecasts of rainfall in the U.S. Midwest region could interfere with planting progress. The lack of new round of negotiations between the U.S. and Iran heightened concerns over the Middle East situation, pushing oil prices higher, which in turn boosted soybean prices. Spring planting in the U.S. for 2026 has begun, with weather conditions in key production areas drawing attention. As of the week ending April 19, U.S. soybean planting progress reached 12%, in line with market expectations, compared to 7% and 5% for the same period last year and the five-year average, respectively. Soybean harvesting in Brazil is nearing completion.

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