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Chinese government efforts to limit agricultural imports have led to customs delays of over 20 days, versus about five normally, leaving some Guangdong soybean crushers in Dongguan idle for three weeks. Spot soybean meal prices in Guangdong rose almost 7% in one week, the largest rise since March.
Import curbs and slow clearance tighten crush supply and lift regional soybean meal prices, while lower overall Chinese import demand weighs on global soybean prices.
scmp.comBloombergJan 1, 2025After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
