# Recovering demand for protein meals drives oilseeds consumpti ...

> A USDA FAS report estimates China's total oilseed crush for MY 23/24 at 135 million tonnes, up from 134 MMT previously and 132.9 MMT in MY 22/23. Recovering feed production is lifting soybean meal demand, and the soybean crush forecast was raised to 96 MMT.

- Date: 2023-11-10 · published 2023-11-10T12:00:00.000Z
- Category: report · region China · magnitude medium
- Page: https://feedsoft.ai/events/33164-recovering-demand-for-protein-meals-drives-oilseeds-consumpti
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Stronger Chinese crush and feed-driven soymeal demand support soybean and soymeal prices, particularly as SBM prices are relatively low versus recent highs.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2017-08-01 | [Demand for oilseeds drives China’s soybean imports \| World-grain.com \| August 01, 2017 14:22 \| World Grain](https://feedsoft.ai/events/69328-demand-for-oilseeds-drives-china-s-soybean-imports-world-grain-com-august-01.md) | -3.3% | -7.3% |
| SBM | 2016-06-05 | [US report drives protein markets](https://feedsoft.ai/events/9129-us-report-drives-protein-markets.md) | -0.1% | -2.3% |
| SBM | 2024-09-10 | [Rising Chinese feed demand pushes increase of oilseed crushing \| MEAT+POULTRY](https://feedsoft.ai/events/28296-rising-chinese-feed-demand-pushes-increase-of-oilseed-crushing-meat-poultry.md) | +0.7% | +1.9% |
| SBM | 2025-03-04 | [Revealed: Decline in animal protein meals and fats usage in US livestock feed - Milling and Grain](https://feedsoft.ai/events/25701-revealed-decline-in-animal-protein-meals-and-fats-usage-in-us-livestock-feed.md) | +1.6% | +1.1% |
| SBM | 2022-07-11 | [FAS report shares growing demand for feed in China \| MEAT+POULTRY](https://feedsoft.ai/events/40470-fas-report-shares-growing-demand-for-feed-in-china-meat-poultry.md) | -7.9% | +4.5% |
| SOY | 2017-08-01 | [Demand for oilseeds drives China’s soybean imports \| World-grain.com \| August 01, 2017 14:22 \| World Grain](https://feedsoft.ai/events/69328-demand-for-oilseeds-drives-china-s-soybean-imports-world-grain-com-august-01.md) | -3.5% | -6.0% |
| SOY | 2016-06-05 | [US report drives protein markets](https://feedsoft.ai/events/9129-us-report-drives-protein-markets.md) | +4.1% | +3.2% |
| SOY | 2024-09-10 | [Rising Chinese feed demand pushes increase of oilseed crushing \| MEAT+POULTRY](https://feedsoft.ai/events/28296-rising-chinese-feed-demand-pushes-increase-of-oilseed-crushing-meat-poultry.md) | +0.5% | +3.4% |

## Sources

- millingmea.com: https://millingmea.com/recovering-demand-for-protein-meals-drives-oilseeds-consumption-in-china-usda/

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