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China's agriculture ministry official said China has sufficient soybean reserves to ensure fodder supply this year, responding to concerns the pandemic could disrupt imports. Soybean meal prices rose from 2,900 to 3,300 yuan per tonne in late March, and soybean imports rose 6.4% year on year in the first quarter.
Official reassurance on reserves and balanced supply may limit panic buying and cap soybean meal price gains in China, though import risks remain.
chinadaily.com.cnLi LeiApr 19, 2020After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), 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.
