The animal feed market starts 2026 with corn prices rising and soybean meal prices falling.

The market for grains used in animal feed is showing distinct behaviors at the beginning of 2026. While corn shows signs of recent price recovery, soybean meal is still operating at a lower level than observed in the same period last year.

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The information is contained in the February Milk and Dairy Products Market Price Bulletin, prepared by the Milk Intelligence Center (CILeite) of Embrapa Dairy Cattle, which monitors factors that influence the production costs of dairy farming.

In the case of corn, prices show a slight increase compared to January, indicating a recovery after a period of decline throughout 2025. Despite this temporary recovery, prices remain significantly below the level observed at the beginning of last year, reflecting a scenario of increased supply and adjustments in the balance between production and demand.

The recent trajectory of the grain suggests that the market went through a downward cycle over the past year, followed by a gradual process of stabilization and partial price recovery at the beginning of 2026. This movement usually occurs after periods of strong supply pressure, when the market begins to absorb the available volumes.

In the case of soybean meal, the scenario remains more pressured. The product is registering a decline both in comparison...

Photo: Juliana Sussai

This indicates that the market is still facing a lower price environment, both monthly and when compared to the same period of the previous year.

The sharper annual decline in soybean meal prices mainly reflects the global context of ample availability of soybeans and soybean derivatives, as well as adjustments in international trade and soybean processing. This environment tends to limit more consistent price increases in the short term.

For the animal production sector, the combination of these trends generates distinct effects on diet costs. The slight recovery in corn prices may partially increase the energy costs of feed, while soybean meal, the main protein source, still helps to moderate the pressure on formulation costs.

Overall, the market indicates a period of adjustment after fluctuations recorded over the past year, with gradual adjustments in the prices of the main inputs used in animal nutrition, factors that directly influence the cost structure of the dairy chain.