China's soybean imports are forecast at record levels for both the 2020-21 and 2021-22 marketing years, according to market sources cited by S&P Global Platts. Recovery in the pig herd is expected to lift soymeal demand.
Record Chinese import demand tightens global soybean supplies and supports international prices into 2022.
After 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.