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USDA FAS forecasts China's 2024-25 soybean production at 19.9 million tonnes, slightly up from 19.7 million, with imports projected at 104 million tonnes, raised from 103 million in the prior report. Beginning stocks are seen rising to 36.4 million tonnes, and feed demand growth is supporting soymeal use.
Steady-to-higher Chinese import expectations and large opening stocks point to ample global soybean supply, a mildly bearish factor for soybeans and soybean meal prices.
world-grain.comJohn ReidyNov 13, 2024After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
