# Ahead of Xi's US visit, China's soybean crushers face high costs, weak margins | Reuters

> Chinese soybean crushers face high costs and weak margins ahead of Xi Jinping's US visit. China's pig herd is expected to shrink in the fourth quarter as Beijing cuts inventories and limits hog weights. Importers have largely completed October purchases and booked 4.8 million tons for November, about 60% of projected demand.

- Date: 2026-09-07 · published 2026-09-07T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/17463-ahead-of-xi-s-us-visit-china-s-soybean-crushers-face-high-costs-weak-margins
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Weak crush margins can slow soybean crushing and reduce meal output, while firm forward bookings support raw bean demand. A shrinking hog herd would lower future feed demand, which tends to weigh on meal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: neutral
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-09-25 | [China signals that purchases of US soybeans hinge on tariff removal \| Reuters](https://feedsoft.ai/events/14632-china-signals-that-purchases-of-us-soybeans-hinge-on-tariff-removal-reuters.md) | +0.4% | +2.6% |
| SOY | 2025-11-08 | [Here’s what the U.S.-China trade truce really means for the U.S. soybean market — and for farmers - MarketWatch](https://feedsoft.ai/events/12248-here-s-what-the-u-s-china-trade-truce-really-means-for-the-u-s-soybean-market.md) | +1.0% | -0.7% |
| SOY | 2024-05-16 | [Rising US soybean crush set to face off with Argentine supplies into 2025](https://feedsoft.ai/events/13926-rising-us-soybean-crush-set-to-face-off-with-argentine-supplies-into-2025.md) | +2.7% | -2.0% |
| SOY | 2025-11-05 | [Beijing lifts some tariffs on US farm goods but soybeans stay costly \| Reuters](https://feedsoft.ai/events/14621-beijing-lifts-some-tariffs-on-us-farm-goods-but-soybeans-stay-costly-reuters.md) | +0.5% | +0.7% |
| SOY | 2025-11-03 | [Chinese buyers purchase Brazilian soybeans as prices ease over US-China trade thaw \| Reuters](https://feedsoft.ai/events/12245-chinese-buyers-purchase-brazilian-soybeans-as-prices-ease-over-us-china-trade.md) | +0.2% | +2.6% |
| SBM | 2018-08-20 | [China’s soybean crush margin weakens - McKeany-Flavell](https://feedsoft.ai/events/63602-china-s-soybean-crush-margin-weakens-mckeany-flavell.md) | -5.3% | -8.2% |
| SBM | 2025-07-29 | [China's soymeal glut raises demand doubts ahead of US soybean export season \| Reuters](https://feedsoft.ai/events/14645-china-s-soymeal-glut-raises-demand-doubts-ahead-of-us-soybean-export-season.md) | +2.7% | +10.4% |
| SBM | 2026-09-30 | [China's weak soybean demand dims prospects for US cargoes after tariff snub \| Reuters](https://feedsoft.ai/events/14544-china-s-weak-soybean-demand-dims-prospects-for-us-cargoes-after-tariff-snub.md) | -1.3% | -3.9% |

## Sources

- investing.com: https://www.investing.com/news/commodities-news/ahead-of-xis-us-visit-chinas-soybean-crushers-face-high-costs-weak-margins-4890572
- reuters.com: https://www.reuters.com/business/autos-transportation/ahead-xis-us-visit-chinas-soybean-crushers-face-high-costs-weak-margins-2026-09-07/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.