
USDA's July 2024 Oilseeds: World Markets and Trade report projects Mexico's soybean meal imports rebounding to over 2 million tons in 2024/25, the second highest ever. The report also raised China's 2023/24 soybean import forecast by 3 million tons to a record 108 million.
Strong Mexican demand for US soybean meal supports export prices, while record Chinese soybean imports add to global soybean demand.
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.
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.