China's soybean imports in October rose 41% year on year to 8.69 million tonnes, according to customs data released November 7. The increase is attributed to recovery in China's pig herd after African swine fever, which lifted feed demand.
Analysts expected soybean futures to keep trending higher on Chinese demand.
Stronger Chinese import demand for soybeans supports soybean and soymeal prices, since rebuilding hog herds require more feed protein.
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.