# China's 2021-22 soybean demand unlikely to slacken despite negative crush margin | S&P Global

> 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.

- Date: 2021-09-06 · published 2021-09-06T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/45064-china-s-2021-22-soybean-demand-unlikely-to-slacken-despite-negative-crush
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Robust Chinese import demand supports global soybean prices and maintains pressure on feed buyers, even though weak crush margins limit soymeal demand.

## Read by commodity

- SBM: neutral
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-12-11 | [Soybean Deal Signals China’s Early Jump Into 2021 U.S. Market - Caixin Global](https://feedsoft.ai/events/49684-soybean-deal-signals-china-s-early-jump-into-2021-u-s-market-caixin-global.md) | +4.2% | +19.2% |
| SOY | 2020-04-20 | [China's 2019-2020 soybean demand to remain strong despite COVID-19, African swine fever](https://feedsoft.ai/events/53634-china-s-2019-2020-soybean-demand-to-remain-strong-despite-covid-19-african.md) | -0.0% | +0.7% |
| SOY | 2022-01-26 | [China’s soybean crush margins worsen \| Latest Market News](https://feedsoft.ai/events/12640-china-s-soybean-crush-margins-worsen-latest-market-news.md) | +8.6% | +19.0% |
| SOY | 2018-10-16 | [Two Boatloads of U.S. Soybeans on Their Way to China Despite Tariffs - Caixin Global](https://feedsoft.ai/events/62398-two-boatloads-of-u-s-soybeans-on-their-way-to-china-despite-tariffs-caixin.md) | -3.7% | -2.2% |
| SOY | 2021-04-27 | [Chinese Demand Drives Global Soybean Trade - Trade Data Monitor](https://feedsoft.ai/events/47451-chinese-demand-drives-global-soybean-trade-trade-data-monitor.md) | -0.6% | -2.9% |
| SBM | 2022-01-26 | [China’s soybean crush margins worsen \| Latest Market News](https://feedsoft.ai/events/12640-china-s-soybean-crush-margins-worsen-latest-market-news.md) | +9.9% | +13.9% |
| SBM | 2018-10-16 | [Two Boatloads of U.S. Soybeans on Their Way to China Despite Tariffs - Caixin Global](https://feedsoft.ai/events/62398-two-boatloads-of-u-s-soybeans-on-their-way-to-china-despite-tariffs-caixin.md) | -4.3% | -6.5% |
| SBM | 2020-05-15 | [Soybeans down, despite demand from China - Brownfield Ag News](https://feedsoft.ai/events/53164-soybeans-down-despite-demand-from-china-brownfield-ag-news.md) | -0.9% | +1.3% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/090621-chinas-2021-22-soybean-demand-unlikely-to-slacken-despite-negative-crush-margin

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.