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China's Ministry of Agriculture and Rural Affairs reported 2022 soybean production of 20.28 million tonnes, up 3.89 million from 2021. Pork output reached 55.41 million tonnes, up 4.6% year on year.
Officials attributed the soy gain partly to higher pork production.
Higher domestic soybean output in China could reduce import needs over time, which is mildly bearish for global soybean and meal demand.
asian-agribiz.comHa ThuFeb 2, 2023After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), 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.
