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China's customs data showed soybean imports of 10.22 million tons in May, down 11.6% from a year earlier and below expectations. Imports for January to May totaled 37.37 million tons, 5.4% lower than the prior year, with Brazil supplying most beans.
Lower Chinese arrivals reduce near-term crush demand for soybeans and soymeal, though firm hog prices and crush margins offer support.
ukragroconsult.comJun 12, 2024After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
