
China's July soybean imports fell 1.6% year on year to 11.48 million tons, according to customs data. Analysts linked the drop to a high base from last year's Brazilian buying and to reduced purchases on expectations of weaker feed demand from a shrinking sow herd.
January-July imports still rose 0.7%.
Softer July arrivals and weaker feed demand expectations reduce near-term import pull on soybeans and meal. Arrivals expected above 10 million tons in August, however, keep crush and meal supply firm.
After 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 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.