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A USDA Foreign Agricultural Service report expects Japan to import about 3 million tonnes of soybeans in 2024-25 while shifting crush toward canola, which benefits from a better crush margin. Japan's soybean crush is projected at 2.28 million tonnes, and rapeseed imports are rising to 2.1 million tonnes.
Stronger canola crush in Japan shifts oilseed demand away from soybeans and increases soybean meal imports, which slightly supports soybean meal demand while trimming soybean imports. The overall price effect is modest.
world-grain.comJohn ReidyApr 9, 2024After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
Not enough comparable past events yet for a historical read.
After 250 past neutral report events, SBM moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
