COMMODITY SUBSCRIPTION · SCOPE & METHOD · NOT AN OFFER
Soybean MealSubscription Report
HS 230400 · bulk
NINE PAGES · REGISTRATION OPEN · NO FEE IS BEING COLLECTED YET
PRICE BASIS · CUSTOMS RECORD · COUNTERPARTY REGISTER — READ FROM FREE, CITED SOURCES
01The record on this commodity
02What it is, and what H-α does with it
03The nine pages, what each does, and a line from each
04Method, provenance and terms
COMMODITY SUBSCRIPTION REPORT · PREPARED BY H-α TRADE INTELLIGENCE
2026-10-16
H-α · TRADE INTELLIGENCE
Soybean Meal Subscription Report
This document states what an H-α subscription to Soybean Meal observes, what its price is measured against, and what the platform holds on the commodity at the moment the document was generated. Figures are read from the platform's own stores at render time. Quotations are reproduced verbatim from the commodity registry.
What this document is, and is not. It is a statement of scope and method. It is not an offer, not a price assessment, and not a recommendation to trade. No counterparty is named and no figure below is presented as a quotable price unless its own basis says it is one. Where the platform holds nothing, this document says so.
THE RECORD
I.The record on this commodity
What the platform holds on Soybean Meal, counted at the moment this document was generated. Every figure below is read from the store the page that uses it reads; none is estimated, and a count the platform cannot honestly make is stated as absent rather than shown as zero.
| WHAT IS HELD | COUNT | BASIS |
|---|
| Buyers | 13 | named companies |
| Sellers | 13 | named companies |
| Countries | 7 | in the record |
| Ports | 5 | worked by the book |
| Customs lanes | — | no lane has been cut on this HS code yet |
| Declarations | — | no declaration has been read on this HS code yet |
| Prices | 2 | legs on the desk |
| Pursuit lanes | — | the pursuit engine has not been run on this commodity |
| Freight routes | 6 | container · drawn |
| Inland legs | — | no inland leg is on file for this commodity yet |
| Specifications | 6 | in the grade table |
| Named sources | 2 | all free to consult |
THE COMMODITY
II.What Soybean Meal is, and what H-α does with it
Soybean meal is the protein half of the soybean crush and the world's principal feed protein. It prices on protein content — 46 per cent hipro is the US and Brazilian standard, Argentina ships 46/47, India 48 — and a point of protein is worth roughly one and a half to two per cent of value. Argentina, Brazil, the United States, Paraguay and India carry export supply; the European Union, Southeast Asia, North Africa and the Gulf carry demand. Urease activity proves the meal was properly toasted, which is a safety specification, not a preference.
What the subscription does with it
The subscription reads the declared record on the meal heading rather than on beans, keeps crushers, traders, feed mills and importers in one book, and audits a proposed trade against the registry's own specification set — protein, fibre, moisture, fat, urease, sand and silica — with each grade's own protein basis. The price basis is the series the registry names, aged from its own print date.
The registry’s note on the headings this subscription reads:
Oilcake and other solid residues from soyabean oil extraction
The registry’s caveat on the price anchor:
Soymeal is the most price-transparent market on this desk. The intel edge is strong and the broker's information edge is correspondingly weak — value sits in counterparty and lane, not in price discovery.
THE NINE PAGES
III.The nine pages, what each does, and a line from each
Every subscription is one commodity and the same nine pages, in the order they are worked. Under each is a single line taken from that page as it stands today — one line, not the page. A page marked opening is not yet reachable for this commodity; where its line is drawn from a commodity that is already open, the line carries that commodity’s name.
OPEN01Market Today
What is true about this market on this data day: the mark, how old it is, and what that age lets you say. Print age, never fetch age — a monthly benchmark is not quoted as today's price.
447.00 USD/MT · U.S. soymeal, 48% protein, average weekly price, FOB Rotterdam, from January 2025 · World Bank Pink Sheet · print 2026-09
OPEN02Intel
Why the price sits where it does. The origin ladder, the spreads between grades and legs, and the drivers underneath them — every rung carrying its own source and its own print date.
Soybeans — crush input (World Bank Pink Sheet) · 524.00 · World Bank Pink Sheet 'Soybeans' — the CRUSH INPUT, not a meal price · World Bank Pink Sheet · print 2026-09
OPEN03Customs
The declared record on this commodity's HS codes: lanes cut from real declarations, the parties at both ends, and the unit values that were actually realised rather than quoted.
no line can be drawn for this page on any commodity yet
OPEN04Register
One book, two roles. Every buyer and every seller on this commodity — where they sit, which ports they work, and a stamp on each row saying where it came from.
Clearwater Naturals · buyer · US · new-orleans · unset
OPEN05Trade Audit
Put a trade shape in — volume, origin, destination, incoterm, price — and the desk audits it against the record. Where there is no basis to judge it, it refuses rather than scores.
Protein % baseline 46.0 · 6 specs checked: protein pct, fibre pct, moisture pct, fat pct
OPEN06Pursuit
Who to call, and the reason for the call. A lane is gated on four legs — alive, named, priced, routed — and only a lane that passes all four reaches the board.
no line can be drawn for this page on any commodity yet
OPEN07Deal Maker
The cost stack end to end: FOB, freight, insurance, discharge, inland, duty. What the cargo lands at and what is left for you, with the source shown under every input.
insurance % of CIF 0.055 · discharge USD/MT 0.7 · destination inland USD/MT 0.75 · typical cargo MT 45000
OPEN08Freight
The ocean leg: lane rates by vessel class or by box, transit times, port congestion, and the chokepoints between origin and destination.
apapa-lagos → new-orleans · container · High volume · 2 sellers · 11 buyers
OPEN09Logistics
Everything that is not the ocean leg: inland mode, gateways, rail and truck corridors, border crossings, and where a cargo actually stops moving.
no line can be drawn for this page on any commodity yet
METHOD
IV.Method, provenance and terms
Every figure carries its source and its date. No number appears here or on the platform without the store it was read from and the date that store stamped it. A figure that cannot carry both is not published.
Print age, never fetch age. A price is aged from the date the source printed it. Re-fetching a monthly series nightly does not make it daily, and it is not presented as though it did.
The mark is named, never chosen. The headline price is the series the commodity registry names for this commodity. Where the store holds several for one commodity, none is picked by position or recency.
Absence is stated. Where the platform holds nothing, it says what is missing and why. A dash or an omitted section would read as completeness that has not been earned.
Deterministic. Figures are read and arithmetic is applied. No figure here or on the platform is the output of a language model.
Terms
Registration is open and no fee is being collected. A registration records who asked and which commodity; H-α comes back to the address given. No account is created and nothing is owed on registration.
The record is assembled from two sources: UN Comtrade, World Bank Pink Sheet. Each is free to consult and each is named on every figure it produces, so a subscriber can go to the source and check the number rather than take it.