Commodity ratio · live
Steel to Soybean Meal Ratio
The steel to soybean meal ratio is 9.349 — Steel at $3,066.00 per Metric Ton divided by Soybean Meal at $327.96 per Bushel.
Prices as of Aug 24, 2026, 12:14 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Steel to Soybean Meal ratio
1.000 T of steel = 9.349 Bu of soybean meal
Inverse (ZM/STEEL): 0.1070 — one Bushel of soybean meal buys that much steel.
Near the bottom of its 1 year range — historically compressed. (6th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Soybean Meal
$327.96
per Bushel
Unit basis: CNY per Metric Ton ÷ USD per Bushel. The ratio reads as Bushels of soybean meal per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 12:14:10 GMT.
These two commodities are quoted in different currencies (CNY and USD). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
10.03
median 9.976
1Y low
9.078
Jul 27, 2026
1Y high
11.27
Sep 30, 2025
Normal band
9.553–10.51
mean ± 1 std dev
Deviation from mean
-1.43σ
251 observations
Steel to Soybean Meal ratio charts
Pick a range once — it applies to the STEEL/ZM ratio line, the OHLC candles and the Steel / Soybean Meal price chart below.
STEEL/ZM ratio line
How many Bu of Soybean Meal one T of Steel buys, over 1Y.
STEEL/ZM ratio candles
Open, high, low and close of the STEEL/ZM ratio for each period in the last 1Y.
Steel and Soybean Meal prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the steel to soybean meal ratio
Steel to Soybean Meal ratio = Steel price per Metric Ton ÷ Soybean Meal price per Bushel
The two legs use different units, so the result is a rate — Bushels of soybean meal per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $327.96 = 9.349. The inverse is 0.1070.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4655.18 |
| 2 | XAG | Silver | 69.27 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.99 |
| 5 | NG-FUT | Natural Gas Futures | 2.81 |
| 6 | PL | Platinum | 1887.51 |
| 7 | PA | Palladium | 1353.70 |
Frequently asked questions
What is the steel to soybean meal ratio today?
The steel to soybean meal ratio is 9.349 — Steel at $3,066.00 per Metric Ton divided by Soybean Meal at $327.96 per Bushel, from live mid-market prices.
How do you calculate the steel to soybean meal ratio?
Divide the steel price per Metric Ton by the soybean meal price per Bushel. If the two units differ, the result is a rate rather than a plain count — read it as Bushels of soybean meal per Metric Ton of steel.
What is the inverse of the steel to soybean meal ratio?
The inverse, soybean meal to steel, is 0.1070 — how many Metric Tons of steel one Bushel of soybean meal buys.