# China soybean prices plunge amid weaker local demand, higher Brazil farmer sales

> Chinese soybean basis fell to 76 cents/bu over May CBOT, the lowest since 2018, as Brazilian farmers increased sales during their harvest. Weak Chinese hog demand pushed spot soymeal to its lowest in eight months and crush margins negative.

- Date: 2023-03-21 · published 2023-03-21T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/36942-china-soybean-prices-plunge-amid-weaker-local-demand-higher-brazil-farmer-sales
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Heavy Brazilian selling and weaker Chinese crush demand pressure global soybean and soymeal prices, weighing on export values for feed ingredients.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-09-22 | [Lack of China Demand Hammers US Soybean Oil Prices - TT](https://feedsoft.ai/events/22934-lack-of-china-demand-hammers-us-soybean-oil-prices-tt.md) | -1.1% | -0.6% |
| SOY | 2022-06-17 | [Soybean prices are falling amid declining demand from China 17.06.2022 - UkrAgroConsult](https://feedsoft.ai/events/40976-soybean-prices-are-falling-amid-declining-demand-from-china-17-06-2022.md) | -5.8% | -12.4% |
| SOY | 2021-07-13 | [Global Soybean Trade Slows on Weaker China Demand \| Feed & Grain](https://feedsoft.ai/events/46110-global-soybean-trade-slows-on-weaker-china-demand-feed-and-grain.md) | -0.3% | +0.1% |
| SOY | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.4% | -6.5% |
| SOY | 2023-05-10 | [Soybeans face pressure on US planting weather, tepid China demand](https://feedsoft.ai/events/14841-soybeans-face-pressure-on-us-planting-weather-tepid-china-demand.md) | -6.0% | -6.3% |
| SBM | 2022-06-17 | [Soybean prices are falling amid declining demand from China 17.06.2022 - UkrAgroConsult](https://feedsoft.ai/events/40976-soybean-prices-are-falling-amid-declining-demand-from-china-17-06-2022.md) | -0.3% | +12.3% |
| SBM | 2021-07-13 | [Global Soybean Trade Slows on Weaker China Demand \| Feed & Grain](https://feedsoft.ai/events/46110-global-soybean-trade-slows-on-weaker-china-demand-feed-and-grain.md) | +1.2% | +1.2% |
| SBM | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.3% | -9.4% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/china-soybean-prices-plunge-amid-weaker-local-demand-higher-brazil-farmer-sales/

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