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According to USDA Foreign Agricultural Service estimates, China imported a record 99.8 million tonnes of soybeans in 2020-21, with 2021-22 imports forecast at 101 million tonnes. Growing swine and poultry demand drove the increase.
Chinese domestic soybean output is expected to fall as land shifts to corn.
Strong Chinese demand for soybeans and feed ingredients supports soybean, meal and corn prices. Reduced domestic soybean output increases reliance on imports.
world-grain.comSusan ReidyNov 8, 2021After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), 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.
