China's big feed shift to curb soybean imports, strain small farmers

After 223 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.

• Sep 22, 2022China to Cut Soybean Meal in Livestock Feed | Feed & Grain-6.3%
• Apr 10, 2023China makes an effort to reduce soybean imports+0.7%
• Mar 19, 2021China looks to cut corn, soymeal content in animal feed | Feed Strategy+0.9%
• Jun 11, 2025China Nudges Pig Farmers to Restrain Supply After Prices Slump-3.5%
• Apr 14, 2023Food security drives China to cut soymeal use in animal feed | Reuters-1.7%

After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.

• Sep 22, 2022China to Cut Soybean Meal in Livestock Feed | Feed & Grain-3.6%
• Jan 1, 2025China’s crop import curbs causing soybean shortage-1.1%
• Apr 10, 2023China makes an effort to reduce soybean imports+0.5%
• Apr 14, 2023Food security drives China to cut soymeal use in animal feed | Reuters-0.2%
• Jan 10, 2023China’s soybean imports have peaked and will keep falling as Beijing stresses food security, report says | South China Morning Post+2.4%