Soymeal futures traded slightly lower today

Soymeal futures traded slightly lower today, with the March contract hovering around $438 per short ton, pressured by weaker crush margins in China and steady soybean imports from Brazil. Traders are closely monitoring USDA’s weekly export data for fresh signals on demand strength. Traders were likely squaring up following a couple days of buying on a potential for easing of trade tensions ahead of the Trump/XI meeting later this month. Soybean crushing is the process of crushing whole soybeans to produce soybean meal and soybean oil. Soybean meal is used as a high-protein animal feed while soybean oil is a vegetable oil used in various food, fuel and industrial applications . Soymeal futures dipped mid-session amid speculative selling, but strong basis levels in Midwest cash markets limited downside. Analysts note crush margins remain favorable, keeping domestic production steady even as futures wobble.