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China's soybean crush rate fell to a year-to-date low of 53.5% at the start of August as negative crush margins forced plants to cut runs. Crushers reduced soybean purchases, and soybean prices fell.
Soybean oil demand in China had slumped 50% year on year in June.
Lower Chinese crush cuts soybean and meal demand, which is bearish for soybeans and soybean meal prices. Weak soybean oil demand also weighs on the oil side of the crush.
spglobal.comAug 5, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
