
China's Ministry of Agriculture and Rural Affairs said soybean imports will keep rising as the pandemic's effect on trade is limited. China imported 55.1 million tonnes from January to July, up 17.6% year on year, and expects more U.S. purchases under the phase one deal.
Sustained Chinese soybean imports support global soybean demand and prices. Expected U.S. purchases and stable supply point to steady meal and oil supplies for feed buyers in China.
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 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), 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.
China's ministry said soybean imports will keep rising and more US purchases are expected, supporting demand sentiment.