
Rabobank says China's Feed Industry Association approved new standards on October 26 lowering crude protein by 1.5 points for swine feed and 1 point for poultry feed. The aim is to reduce dependence on U.S. soybeans, with larger northern farms most affected.
Lower soymeal inclusion reduces soybean and soymeal demand, while substitutes such as rapeseed meal may gain share.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
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.