
China's May soybean imports from Brazil rose 82% from April to 9.23 million tonnes, while U.S. shipments fell sharply to 244,431 tonnes. Crushers in Shandong are losing money on each tonne processed, and imports from all origins are expected to stay high.
High Chinese import volumes and negative crush margins point to pressure on soybean and meal prices, with Brazilian supply dominating the near-term flow.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.