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China reaffirmed a goal to produce 95% of its pork domestically through 2025, with poultry and egg self-sufficiency at 85%, beef and mutton at 85%, and dairy at 70%. Analysts expect feed grain imports to stay high as China prioritises domestic meat and dairy output.
Sustained high Chinese demand for imported soybeans and feed grains supports global feed grain and soymeal prices even as domestic herd policy shifts.
www-scmp-com.libproxy1.nus.edu.sgBloombergDec 23, 2021After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
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.
