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China's soybean imports reached 9.38 million tons in May, the highest of the year, with 8.86 million from Brazil, and monthly arrivals from June to August could exceed 10 million tons. Domestic soymeal prices fell sharply in June to an average of 2,763 yuan per ton amid slow livestock demand, and customs are requiring virus tests on imports from high-risk countries.
Heavy port stocks and rising arrivals point to continued supply pressure on soymeal in China, a major import market. Weak domestic demand from the livestock sector keeps meal prices under downward pressure.
en.cnagri.comJul 9, 2020After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
