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A USDA GAIN report dated March 22 says China's oilseed demand will keep growing despite African swine fever, as chicken, beef and aquaculture demand rises. USDA projects China's 2019-20 soybean production at 16.4 million tonnes, up 4%, and says China will keep relying on imports from Brazil, the US, Argentina and Canada.
Continued Chinese oilseed import reliance supports soybean and meal demand, partly offsetting ASF-driven feed declines and limiting downside in oilseed prices.
world-grain.comHolly Demaree-SaddlerApr 4, 2019After 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.
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.
