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China's average soybean meal price rose 14.98% to 4,400 RMB/ton after May Day, compared with 3,844 RMB/ton at the start of April. Slow customs clearance of imported soybeans cut crushing rates at some plants, and meal inventories fell to about 200,000 tons from nearly 600,000 tons in the first quarter.
Tight domestic meal supply in China lifts regional meal prices and raises import demand for soybeans, supporting Chinese meal costs for feed buyers.
sunsirs.comMay 9, 2023After 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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
