Commodity ratio · live
Soybean Meal to Steel Ratio
The soybean meal to steel ratio is 0.1070 — Soybean Meal at $327.96 per Bushel divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 12:14 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Soybean Meal to Steel ratio
1.000 Bu of soybean meal = 0.1070 T of steel
Inverse (STEEL/ZM): 9.349 — one Metric Ton of steel buys that much soybean meal.
Near the top of its 1 year range — historically stretched. (94th percentile of the last 1 year)
Soybean Meal
$327.96
per Bushel
Steel
¥3,066.00
per Metric Ton
Unit basis: USD per Bushel ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Bushel of soybean meal. Prices as of Mon, 24 Aug 2026 12:14:31 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
0.09992
median 0.1002
1Y low
0.08872
Sep 30, 2025
1Y high
0.1102
Jul 27, 2026
Normal band
0.09523–0.1046
mean ± 1 std dev
Deviation from mean
+1.50σ
251 observations
Soybean Meal to Steel ratio charts
Pick a range once — it applies to the ZM/STEEL ratio line, the OHLC candles and the Soybean Meal / Steel price chart below.
ZM/STEEL ratio line
How many T of Steel one Bu of Soybean Meal buys, over 1Y.
ZM/STEEL ratio candles
Open, high, low and close of the ZM/STEEL ratio for each period in the last 1Y.
Soybean Meal and Steel prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the soybean meal to steel ratio
Soybean Meal to Steel ratio = Soybean Meal price per Bushel ÷ Steel price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of steel per Bushel of soybean meal — rather than a plain count.
Worked example, live prices: $327.96 ÷ $3,066.00 = 0.1070. The inverse is 9.349.
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 soybean meal to steel ratio today?
The soybean meal to steel ratio is 0.1070 — Soybean Meal at $327.96 per Bushel divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the soybean meal to steel ratio?
Divide the soybean meal price per Bushel by the steel price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of steel per Bushel of soybean meal.
What is the inverse of the soybean meal to steel ratio?
The inverse, steel to soybean meal, is 9.349 — how many Bushels of soybean meal one Metric Ton of steel buys.