# Commodities 2024: China's soybean demand set to fall amid impending hog supply cuts

> S&P Global sources forecast China's soybean demand in marketing year 2023-24 to fall year on year as hog supply cuts are expected in early 2024. Private consultancies project imports below the USDA's 102 million tonne estimate.

- Date: 2024-01-02 · published 2024-01-02T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/32124-commodities-2024-china-s-soybean-demand-set-to-fall-amid-impending-hog-supply
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expected lower Chinese soybean imports and softer meal demand would pressure soybean prices, with USDA import forecasts possibly too high.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-09-24 | [China's soybean demand in Q4 set to slacken as crushers face power cuts: trade](https://feedsoft.ai/events/45137-china-s-soybean-demand-in-q4-set-to-slacken-as-crushers-face-power-cuts-trade.md) | -2.2% | -4.7% |
| SOY | 2022-01-14 | [China 2021 soybean imports slip 3.8% on falling margins, weak demand](https://feedsoft.ai/events/7370-china-2021-soybean-imports-slip-3-8-on-falling-margins-weak-demand.md) | +3.6% | +15.9% |
| SOY | 2019-10-14 | [China September soybean imports ease on falling animal feed demand](https://feedsoft.ai/events/56562-china-september-soybean-imports-ease-on-falling-animal-feed-demand.md) | -0.2% | -1.8% |
| SOY | 2022-06-17 | [Soybean prices are falling amid declining demand from China 17.06.2022 - UkrAgroConsult](https://feedsoft.ai/events/40976-soybean-prices-are-falling-amid-declining-demand-from-china-17-06-2022.md) | -5.8% | -12.4% |
| SOY | 2025-06-09 | [Decline of China's Soybean Meal Market Amid Rising Imports](https://feedsoft.ai/events/24312-decline-of-china-s-soybean-meal-market-amid-rising-imports.md) | +1.2% | -3.1% |
| SBM | 2022-01-14 | [China 2021 soybean imports slip 3.8% on falling margins, weak demand](https://feedsoft.ai/events/7370-china-2021-soybean-imports-slip-3-8-on-falling-margins-weak-demand.md) | -4.6% | +6.9% |
| SBM | 2019-10-14 | [China September soybean imports ease on falling animal feed demand](https://feedsoft.ai/events/56562-china-september-soybean-imports-ease-on-falling-animal-feed-demand.md) | +0.5% | -0.7% |
| SBM | 2022-06-17 | [Soybean prices are falling amid declining demand from China 17.06.2022 - UkrAgroConsult](https://feedsoft.ai/events/40976-soybean-prices-are-falling-amid-declining-demand-from-china-17-06-2022.md) | -0.3% | +12.3% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/010224-chinas-soybean-demand-set-to-fall-in-2024-amid-impending-hog-supply-cuts

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.