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China's State Council annual rural policy document calls for boosting soybean and edible oil output and raising grain capacity by 50 million tonnes. The document also promotes intercropping soybeans with corn.
The policy aims to reduce China's heavy reliance on soybean imports.
A push for domestic soybean output lowers the long-run need for imports, which is bearish for global soybean export demand. The effect will build slowly over several years.
agriculture.comReutersFeb 14, 2023After 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.
