
China's agriculture ministry expects its soybean purchases in the season starting in October to drop 7.6% to 95.5 million tons. It also expects domestic consumption to fall about 6% as the pig herd declines.
A projected second straight annual drop in the world's largest soybean import market weakens demand for US and Brazilian exports and pressures soybean and meal prices.
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 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.
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.