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A Chinese agriculture ministry official said soybean acreage may only slightly increase in 2023 because farmers are less willing to plant soybeans given low prices. Compound planting with corn is expected to add about 333 hectares, and total acreage is seen stable or slightly higher than last year's jump.
Limited growth in Chinese soybean output means China will keep relying on imports, which supports world soybean demand and meal supply trends.
porkbusiness.comReutersApr 20, 2023After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
