Loading…
China imported a record 12.14 million tons of soybeans in August 2024, up 29% from a year earlier, according to customs data. Buyers took advantage of low prices and feared higher U.S. tariffs if Donald Trump won the election.
Soybean meal inventories remain high and crush margins are shifting.
Record purchases support soybean demand and near-term prices, but oversupply of meal and high inventories weigh on meal prices. Crush economics will determine how much of the soybean demand translates into meal output.
gleaf.inSep 10, 2024After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
