
China's agriculture ministry issued a three-year action plan to reduce soymeal use in animal feed. The plan targets soymeal ratios below 13% by 2025, down from 14.5% in 2022.
The aim is to cut reliance on soybean imports for food security.
Lower soymeal inclusion in Chinese feed reduces the country's demand for soybeans and soybean meal, which is bearish for global soy complex prices. Feed buyers should expect less Chinese demand for imported meal over time.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% 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.