
China's 2020 soybean imports rose 13% to a record 100.33 million tonnes, according to customs data, as crushers bought more after improved margins and a recovering pig sector. December imports fell 27% year on year due to shipping delays, and analysts expect record imports in the new year.
Record Chinese soybean buying supports global soybean and soymeal demand, and expectations of further record imports sustain bullish price pressure.
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.