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China's soybean imports in June rose 11.6% month on month to 10.7 million mt, though down 3.9% from last June's record. First-half imports reached 48.96 million mt, up 8.7% on the year, as the hog herd recovers from African swine fever.
Strong Chinese hog-driven soymeal demand supports soybean prices, though Brazilian beans are expected to dominate Chinese purchases until the US harvest.
spglobal.comAsim AnandJul 13, 2021After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 41 past neutral report events, Crude Oil (Brent) moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% 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.
