Loading…
Chinese customs have increased inspections of imported soybean cargoes under new procedures introduced in April, causing delays of up to 10 working days at ports such as Rizhao. Soybean meal prices in China have risen nearly 14% since early April.
Slower discharge at Chinese ports delays soybean and meal arrivals, supporting Chinese meal prices while global soybean supplies remain ample.
ofimagazine.comQuartz Business MediaJun 2, 2023After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
