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A USDA GAIN report forecasts China's total oilseed demand to rise to 148 million tonnes in marketing year 2020/21 as the swine sector recovers from African swine fever. Protein meal feed use is forecast to rise 2%, and soybean crush is forecast up 3%.
Higher projected crush and meal use in China supports soybean and soymeal demand, which is supportive for prices of those oilseeds.
asian-agribiz.comConny PereiraApr 7, 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 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
