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China's customs data for the first half of 2023 show agricultural imports up 8.3% year on year, while exports were roughly flat. Vegetable oil and soybean volumes rose significantly, with modest gains in meats and grains.
The increase comes as the broader Chinese economy remains sluggish after the post-Covid recovery slowed.
Stronger soybean and vegetable oil buying supports demand for oilseeds and feed protein, though the sluggish economy limits how far import growth can lift prices.
fas.usda.govAug 1, 2023After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), 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.
