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Reuters analyst Karen Braun reports China is significantly cutting soybean imports in 2021-22 versus recent norms, with USDA forecasting 91 million tonnes against nearly 100 million the prior year. Hog producers may cull animals after prolonged losses, which could reduce soybean demand further.
Lower Chinese soybean imports and possible hog culling would weaken global soybean and soymeal demand, pressuring prices.
porkbusiness.comReutersApr 22, 2022After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
