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A USDA GAIN report projects China's 2020-21 soybean imports at 95 million tonnes, driven by continued feed demand from the recovering hog and poultry sectors. Soybean meal feed use is forecast to rise to 71.4 million tonnes.
Brazil's record May-June import surge was attributed to supply-chain fears.
Strong Chinese import demand supports global soybean and meal prices and tightens export availability for other origins. Buyers should expect firm meal demand through 2021 as China rebuilds its hog herd.
world-grain.comHolly Demaree-SaddlerSep 9, 2020After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
