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At a Chinese State Council Information Office press conference, the Ministry of Agriculture and Rural Affairs said China imported 99.41 million tonnes of soybeans in 2023, up 11.4%, largely to feed livestock. It outlined a three-year action plan launched in 2023 to reduce and substitute soybean meal in animal feed.
If China succeeds in cutting soybean meal inclusion in feed rations, import demand for soybeans and meal would weaken, pressuring global protein meal and soybean prices.
english.scio.gov.cnFeb 2, 2024english.scio.gov.cnFeb 2, 2024After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 34 past bearish policy events, Lean Hogs moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% 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.
