
China's soybean imports fell 19% year on year in October to 4.14 million tonnes, the lowest for any month since 2014, after buyers cut purchases amid high global prices and negative crush margins. Imports for the first ten months were down 7.4%, and the pace was below analyst expectations.
Weak Chinese import demand reduces global soybean demand, but tight domestic soymeal supply is pushing China to rebuild stocks, which supports future purchases and the meal price.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.