# China soybean orders lower on moderate animal protein growth – Asian Agribiz

> According to USDA, moderate growth in China's animal protein sector is dampening feedmillers' soybean purchases. Soybean imports rose 4.8% year-on-year in the first five months of MY2022/23 after China relaxed COVID policy. Low margins in pig and poultry production are weighing on feed demand.

- Date: 2023-03-26 · published 2023-03-26T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/36845-china-soybean-orders-lower-on-moderate-animal-protein-growth-asian-agribiz
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Slower Chinese feedmill buying reduces demand for soybeans and soybean meal, pressuring prices. Weak livestock margins signal reduced feed usage ahead.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-07-26 | [Protein pinch: China's soybean imports to slow over rest of 2021 on curbed meal use](https://feedsoft.ai/events/45921-protein-pinch-china-s-soybean-imports-to-slow-over-rest-of-2021-on-curbed-meal.md) | +1.0% | -7.7% |
| SOY | 2025-04-21 | [Report: China halts US corn, soybean orders \| World Grain](https://feedsoft.ai/events/14669-report-china-halts-us-corn-soybean-orders-world-grain.md) | +1.3% | +1.3% |
| SOY | 2018-08-08 | [China has expanded the use of low protein animal feed formulas](https://feedsoft.ai/events/63515-china-has-expanded-the-use-of-low-protein-animal-feed-formulas.md) | -2.8% | -7.2% |
| SOY | 2017-06-05 | [China cancels soy orders as losses mount in crushing](https://feedsoft.ai/events/70565-china-cancels-soy-orders-as-losses-mount-in-crushing.md) | +2.2% | +2.3% |
| SOY | 2023-06-02 | [Easing of China’s soybean appetite puts Brazil crop growth into question](https://feedsoft.ai/events/14832-easing-of-china-s-soybean-appetite-puts-brazil-crop-growth-into-question.md) | +2.5% | +17.1% |
| SBM | 2021-07-26 | [Protein pinch: China's soybean imports to slow over rest of 2021 on curbed meal use](https://feedsoft.ai/events/45921-protein-pinch-china-s-soybean-imports-to-slow-over-rest-of-2021-on-curbed-meal.md) | -0.2% | -0.4% |
| SBM | 2018-08-08 | [China has expanded the use of low protein animal feed formulas](https://feedsoft.ai/events/63515-china-has-expanded-the-use-of-low-protein-animal-feed-formulas.md) | +0.7% | -8.0% |
| SBM | 2017-06-05 | [China cancels soy orders as losses mount in crushing](https://feedsoft.ai/events/70565-china-cancels-soy-orders-as-losses-mount-in-crushing.md) | +1.3% | +0.8% |

## Sources

- asian-agribiz.com: https://www.asian-agribiz.com/2023/03/27/china-soybean-purchases-lower-than-expected-in-2023-24/

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