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China's April industrial output and retail sales growth came in below forecasts, suggesting the economy lost momentum at the start of the second quarter. Analysts said both domestic and trade growth remain weak and called for more policy easing after the post-COVID recovery stalled.
Weaker Chinese industrial and consumer activity suggests softer demand for feed-intensive meat and lower imports of soybeans and feed grains. Pressure for policy easing could eventually support demand, but not in the near term.
reuters.comEllen ZhangMay 16, 2023After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
