Market Intelligence

Research from origin and destination — under one desk.

Boreal analysts publish daily basis notes, weekly balance reports, and monthly Central Asian demand briefs. Full versions distributed to counterparty subscribers.

Commodity Board · 12-month indication

Live desk marks.

Updated Sep 06, 2026 · Reference only

Soybean Meal

USD/mt · FOB NOLA · Basis CBOT Aug + $18

342.8

-1.4%

Desk read

52-wk high362.0
52-wk low328.0
12-mo Δ4.5%
Volatility (σ)9.1

Indications only. Firm offers via Request a Quote.

Central Asia Demand

Feed protein imports by market.

Aggregate protein-meal and DDGS import demand across the five destination markets Boreal serves. Growth reflects trailing 12-month expansion in poultry, dairy, and aquaculture rations.

Kazakhstan

1,420 kt

+7.4%

Uzbekistan

1,180 kt

+11.2%

Kyrgyzstan

285 kt

+6.1%

Tajikistan

220 kt

+9.8%

Turkmenistan

165 kt

+4.9%

Annual feed protein demand · kt · 2026E

Featured

Weekly BalanceJul 14, 2026 · 6 min

USDA July WASDE trims soybean carryout — implications for Q4 meal basis

The July WASDE trimmed 2025/26 U.S. soybean carryout by 30 million bushels versus the prior print, tightening the balance sheet ahead of the harvest bid. Below we walk through the implications for Q4 domestic crush margins and, more importantly, for meal export basis into Central Asian delivery windows.

By Usmon Kuchimov

FreightJul 10, 2026

The desk brief — every Monday.

A weekly digest of Boreal's calls on basis, freight, and Central Asian demand. For counterparties and prospective counterparties only.

Research from origin and destination — under one desk.

Live desk marks.

Feed protein imports by market.

USDA July WASDE trims soybean carryout — implications for Q4 meal basis

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The desk brief — every Monday.