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S&P Global Platts forecasts China's 2021-22 soybean imports at up to 102 million tonnes, up 5 million on the year, despite negative crush margins since June. Analysts expect wheat substitution in feed to be temporary and say strong soybean demand will support already elevated global prices.
Robust Chinese import demand supports global soybean prices and maintains pressure on feed buyers, even though weak crush margins limit soymeal demand.
spglobal.comAsim AnandSep 6, 2021After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
