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China's agricultural outlook projects soybean imports to fall 6.1% in 2026 from 2025, with pork and dairy imports also lower. USDA data showed 30% of US winter wheat rated good to excellent, down from 34% a week earlier, amid Plains drought.
Lower projected Chinese soybean imports weigh on global soybean demand. Deteriorating US winter wheat conditions tighten hard red wheat supplies and support wheat prices.
profarmer.comBill WattsApr 20, 2026After 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 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
Winter wheat ratings falling to 30% good/excellent amid Plains drought signaled lower HRW yield potential.
