Bunge: China's herd of pigs is building up faster than

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.

• Mar 22, 2021China buying boatloads of U.S. corn-1.1%
• Sep 1, 2019The Trade War Is Creating a Windfall for Rivals of U.S. Soy in China-0.3%
• May 14, 2020China’s Pigs Gobble Up Brazilian Soybeans - Caixin Global+0.1%
• Mar 2, 2018China could target US soybeans in a trade dispute, but Beijing is holding off for now-3.4%
• Jan 31, 2023China’s expanding swine herd cues demand for soybeans-0.2%

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.

• May 14, 2020China likely to speed up buying of U.S. farm goods: COFCO exec+1.3%
• Mar 10, 2023China props up U.S. corn, soy exports as other buyers stay quieter than usual-1.9%
• Mar 22, 2021China buying boatloads of U.S. corn-1.1%
• Oct 5, 2021China’s buying — and U.S. farms cashing in-0.6%
• Nov 20, 2023China soybean buying picks up after fall in CME futures, slow farmer selling - Fastmarkets-0.8%