# China's soybean demand slump baffles market | The Western Producer

> China's soybean demand appears to be slumping, with USDA trimming its 2022-23 crush estimate by one million tonnes to 91 million. Despite a record first-quarter import pace of 23 million tonnes, traders expected larger buying, and Dalian soybean and soymeal prices have fallen since early March. Analysts link the weakness possibly to African swine fever resurgence, though the cause remains unclear.

- Date: 2023-04-14 · published 2023-04-14T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/36428-china-s-soybean-demand-slump-baffles-market-the-western-producer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Softer Chinese crush and feed demand reduces import needs for soybeans and soymeal, weighing on global prices. The uncertain cause adds risk to the outlook for other oilseeds like canola.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-10-04 | [China’s cut to soybean consumption ‘unrealistic’ \| The Western Producer](https://feedsoft.ai/events/62523-china-s-cut-to-soybean-consumption-unrealistic-the-western-producer.md) | -1.1% | -2.6% |
| SOY | 2018-03-23 | [As trade tensions mount, China soybean buyers devise contingency plans \| The Western Producer](https://feedsoft.ai/events/65866-as-trade-tensions-mount-china-soybean-buyers-devise-contingency-plans-the.md) | +1.5% | -0.1% |
| SOY | 2022-09-26 | [Chinese demand for grain imports takes tumble \| The Western Producer](https://feedsoft.ai/events/14900-chinese-demand-for-grain-imports-takes-tumble-the-western-producer.md) | -4.3% | -2.1% |
| SOY | 2018-06-28 | [Canadian soybean producers sideswiped by U.S.-China trade battle - The Globe and Mail](https://feedsoft.ai/events/64569-canadian-soybean-producers-sideswiped-by-u-s-china-trade-battle-the-globe-and.md) | -3.7% | -0.7% |
| SOY | 2018-06-20 | [China trade war could permanently scar U.S. soybean market: Braun](https://feedsoft.ai/events/64568-china-trade-war-could-permanently-scar-u-s-soybean-market-braun.md) | -2.4% | -5.3% |
| SBM | 2018-10-04 | [China’s cut to soybean consumption ‘unrealistic’ \| The Western Producer](https://feedsoft.ai/events/62523-china-s-cut-to-soybean-consumption-unrealistic-the-western-producer.md) | +1.5% | -0.4% |
| SBM | 2018-03-23 | [As trade tensions mount, China soybean buyers devise contingency plans \| The Western Producer](https://feedsoft.ai/events/65866-as-trade-tensions-mount-china-soybean-buyers-devise-contingency-plans-the.md) | +4.3% | +1.7% |
| SBM | 2022-09-26 | [Chinese demand for grain imports takes tumble \| The Western Producer](https://feedsoft.ai/events/14900-chinese-demand-for-grain-imports-takes-tumble-the-western-producer.md) | -7.2% | -3.8% |

## Sources

- producer.com: https://www.producer.com/news/chinas-soybean-demand-slump-baffles-market/

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