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China's Chinese Academy of Agricultural Sciences projects 2022 grain output at 688 million tonnes and a 1.4 million hectare increase in soybean area, with soybean output up about 25.8 percent. Pork production is forecast to rise 2.9 percent to 54.5 million tonnes, while growth in grain and pork consumption is expected to slow.
A larger domestic soybean crop and slower meat demand would reduce China's import needs for soybeans and feed grains over time, a bearish signal for global prices.
english.moa.gov.cnZhao YimengApr 29, 2022After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
