EN 
PT_BR 
After a six-month decline, international soybean meal prices rebounded in August. On the Chicago Board of Trade (CBOT), prices rose 5%, closing the month at USD 282.4 per ton. This movement was driven by the shutdown of crushers in the United States for maintenance, which raised concerns of a short-term supply shortfall. Despite the recovery, the monthly average was the second lowest of 2025.
Soybean oil, in turn, fell again in Chicago after four months of appreciation, falling 3.7% to USDc 53.2/lb. The decline followed a nearly 5% drop in oil prices during the period.
Photo: Disclosure/OPR Archive
In the domestic market, the scenario was different: both meal and oil registered increases. In Campinas, São Paulo, meal prices rose 4%, while in Rondonópolis, Mato Grosso, the increase was 1.1%, reaching R$ 1,481/t. Oil prices rose 4.4% in Mato Grosso, to R$ 6,219/t, driven by strong demand from the biodiesel sector. Since the implementation of the B15 program, consumption has remained high, supporting prices even in the face of external declines.
Analysts point out that this movement reinforces the disconnect between the domestic market and the CBOT. The trend is for gradual increases until the end of the season, supported by firm shipments, strong demand, and industrial margins increasingly dependent on oil as the primary source of crushing.
Despite the increase in derivatives prices, crushing margins continued to fall in August, pressured by the appreciation of soybean grains.
