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Chinese feed demand faces pressure from African swine fever, with soymeal usage expected to fall 4 percent and feed corn use 8 percent in 2019. New feed regulations aimed at eliminating antibiotics by 2020 and new 25 percent tariffs on US feed imports such as soybeans and sorghum add further strain.
Lower Chinese feed use and tariffs on US feed ingredients reduce export demand for US soybeans, sorghum and corn, a bearish influence on those prices.
thepigsite.comAug 22, 2019After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.
