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China has reported African swine fever outbreaks almost daily, with more than 70 cases since August and pigs culled in Beijing, Sichuan and Shaanxi. Chinese soymeal, sorghum and DDGS imports have fallen amid the trade dispute, while demand for U.S. pork remains strong ahead of Chinese New Year.
Falling Chinese hog herds reduce feed demand for soybeans and meal, and the trade dispute cuts US sorghum and DDGS export demand, pressuring those prices.
zmp.deDec 5, 2018After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
After 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
