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Rabobank says Chinese government moves to reduce soymeal inclusion in feed, cutting soymeal ratio from 15.3% in 2021 to a target of 12% by 2030, and raising domestic soybean output target to 23 Mt by 2025. The bank expects China's soybean import peak to be behind it.
Lower Chinese soymeal inclusion reduces long-run soybean import demand, bearish for soybeans and soymeal, while potentially opening more demand for canola meal and canola from Australia.
graincentral.comGrain CentralJan 23, 2023After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
Not enough comparable past events yet for a historical read.
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.
