Loading…
China's agricultural imports fell 4.9% year on year in July to $17.8 billion, with meat purchases down 32.1%. Grain and soybean import volumes rose slightly but values fell about ten percent, while overall Chinese imports rose 7.2%.
Weaker Chinese ag import demand, especially for meat and soybeans by value, reduces support for feed-related commodity prices.
tradedatamonitor.comJohn MillerAug 12, 2024After 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 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
