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China began lowering soybean meal and corn content in animal feed after an March 2021 voluntary guideline from the Ministry of Agriculture and Rural Affairs. Large producers such as Muyuan Foods and New Hope Liuhe have cut soybean meal inclusion sharply.
Lower soymeal inclusion in Chinese feed reduces import demand for soybeans and soybean meal, a bearish factor for global soy complex prices.
ukragroconsult.comDec 21, 2021After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), 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.
