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China's January to August grain imports fell sharply year on year, with soybeans down 9%, corn down 21%, wheat down 10% and barley down 43%. China also announced plans to reduce soybean meal use in feed rations, citing its feed grain needs and supply uncertainty.
Lower Chinese import demand and a shift away from soymeal in feed reduce global grain and meal demand, which pressures prices across major feed grains.
producer.comSean PrattSep 26, 2022After 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 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
