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StoneX reviews China's May customs import data and says Chinese demand is under pressure from COVID-19 lockdowns and recession fears. U.S. soybean sales to China are well behind the previous cycle, and soybean imports from China were tracked in early 2022.
Weaker Chinese import demand from lockdowns and slowing growth reduces demand for soybeans, which pressures soybean prices.
stonex.comStoneX Intelligence BrazilJun 27, 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.
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.
