USDA's Foreign Agricultural Service reported that China's MY 24/25 soybean production is unchanged at 19.6 MMT and soybean imports at 103 MMT. It also raised the soybean crush forecast by 1 MMT, reflecting stronger feed demand for soybean meal.
A larger Chinese crush and firmer meal demand support soybean meal and soybean prices, and they lift Chinese import needs. Lower meal prices in China could encourage greater use of meal in feed.
After 747 past bullish report events, Soybeans 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, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.