Loading…
S&P Global forecasts China's 2019-2020 soybean demand will remain strong despite COVID-19 and African swine fever, citing relative demand inelasticity. China is expected to ramp up soybean purchases amid pandemic uncertainty, and feed milling and logistics are returning to normal.
Steady Chinese import demand and expected purchases support soybean and soymeal prices, particularly if buying accelerates.
spglobal.comApr 20, 2020After 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 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.
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.
