Loading…
A USDA Foreign Agricultural Service report says China became the world's largest agricultural importer in 2019, with imports of $133.1 billion. Its import mix is shifting from bulk commodities toward higher-value consumer products.
Structural growth in Chinese imports of meat, dairy and processed foods supports long-run demand for feed ingredients. The report describes the trend rather than a new shock, so near-term price impact is limited.
fas.usda.govUSDA Foreign Agricultural Service (.gov)Oct 1, 2020After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 1,283 past report events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -2.0% to +1.7%), and -0.2% 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.
