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At least 20 soybean crushing plants in China shut down to comply with industrial power curbs, including a Louis Dreyfus facility in Tianjin. Cash soymeal prices in Tianjin rose about 100 yuan a tonne to 3,920 yuan as buyers worried about short-term supply before the National Day holidays.
Lower crush volumes reduce soymeal output and cut soybean demand, tightening feed ingredient supply in the world's largest consumer market. The result is higher soymeal prices and weaker soybean crush demand.
grainews.caReuters, GFM Network NewsSep 25, 2021After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 172 past bullish policy events, SBM moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% 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.
