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A USDA attaché report says Indonesia's soybean subsidy program, launched in April, slowed purchases, cutting 2021-22 imports to 2.68 million tonnes, 13% lower year on year. Imports for 2022-23 are forecast at 2.8 million tonnes, and soybean meal consumption is expected to rise to 5.4 million tonnes.
Lower Indonesian soybean imports reduce import demand for South American and US beans. Rising meal consumption, however, supports South American meal exports.
world-grain.comSusan ReidyAug 8, 2022After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 172 past bullish policy events, SBM moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% 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.
