January 27, 2026

 

Netherlands' soybean meal prices dropped signficantly in mid-January

 

 

Soybean meal prices in the Netherlands fell sharply in mid-January, pressured by expectations of ample supply from Brazil and subdued buying interest at the start of 2026, according to Platts, part of S&P Global Commodity Insights.

 

Market participants said earlier inventory building ahead of the EU Deforestation Regulation (EUDR), combined with a more bearish global supply outlook, has weighed on near-term demand and sentiment.

 

Platts assessed soybean meal FOB Netherlands at €313.25 (US$341) per metric tonne  for the February–March loading period on January 19, down €10.75/mt (US$11.7) week over week, a decline of 3.37%.

 

The price movement reflects a market entering the new year with limited spot interest for nearby deliveries.

 

According to traders, demand for January and February shipments has been notably weak. Buyers had largely secured coverage earlier than usual in late 2025 as they prepared for compliance with the EUDR, which came into force at the start of the year.

 

"Demand for January and February was lower because buyers had already built inventories ahead of EUDR," a Netherlands-based trader said.

 

Sentiment softened further following the release of the latest US Department of Agriculture report, which reinforced expectations of a strong Brazilian soybean crop.

 

Brazil is forecast to harvest a bumper crop in the 2024–25 season, adding to global soybean and soybean meal availability.

 

"With more Brazilian supply expected, offer prices are coming down," another trader said.

 

Many end users are adopting a wait-and-see approach, anticipating additional price declines as South American supplies move into the export pipeline.

 

"The market has not yet found a floor, and buyers are still expecting further downside," a broker said.

 

Brazil has remained the European Union's largest supplier of soybean meal over the past five years, supported by competitive pricing and consistent availability.

 

European Commission data show that Brazil accounted for more than 44% of total EU soybean meal imports over the last five years. Its share peaked in the 2023–24 marketing year (July–June), when it rose to nearly 60%, the highest level in five years.

 

"Brazil is the dominant origin for the EU because of its price competitiveness," a Netherlands-based trader said, adding that freight economics and large-scale processing capacity in Brazil continue to underpin its position in the European market.

 

Import volumes into the EU have also increased in the current marketing year. From July to October in MY 2025–26, EU soybean meal imports totaled 7.313 million metric tonnes, up 10.8% year over year from 6.24 million metric tonnes in the same period of MY 2024–25, according to European Commission data.

 

Looking ahead, traders expect Dutch and wider European soybean meal prices to remain sensitive to developments in Brazil's harvest progress, export flows, and currency movements.

 

- Milling Middle East & Africa