# USDA slashes China soybean import forecast 9.5%

> The USDA attache in Beijing cut its 2018/19 China soybean import estimate 9.5% to 85 million mt, citing feed protein reductions and African swine fever. Soybean crush is projected to fall to 85 million mt and soymeal feed use to 66.6 million mt.

- Date: 2018-11-08 · published 2018-11-08T12:00:00.000Z
- Category: report · region China · magnitude high
- Page: https://feedsoft.ai/events/62042-usda-slashes-china-soybean-import-forecast-9-5
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A sharp cut in Chinese import and crush forecasts reduces global soybean and soymeal demand, which is bearish for prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: bullish ▲
- SUNMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-07-12 | [China cuts soybean import forecast in face of trade war](https://feedsoft.ai/events/63895-china-cuts-soybean-import-forecast-in-face-of-trade-war.md) | +1.5% | +7.7% |
| SOY | 2024-08-12 | [USDA Forecasts Record Soybean Crop](https://feedsoft.ai/events/28713-usda-forecasts-record-soybean-crop.md) | -8.7% | -2.7% |
| SOY | 2021-11-24 | [USDA cuts U.S. ag export forecast amid weaker soybean demand](https://feedsoft.ai/events/14976-usda-cuts-u-s-ag-export-forecast-amid-weaker-soybean-demand.md) | -3.5% | +4.4% |
| SOY | 2023-04-11 | [USDA Forecasts Steady U.S. Corn and Soybean Supplies](https://feedsoft.ai/events/36342-usda-forecasts-steady-u-s-corn-and-soybean-supplies.md) | +2.0% | -1.2% |
| SOY | 2020-08-12 | [USDA forecasts record high corn, soybean yields](https://feedsoft.ai/events/51457-usda-forecasts-record-high-corn-soybean-yields.md) | +3.9% | +11.6% |
| SBM | 2018-07-12 | [China cuts soybean import forecast in face of trade war](https://feedsoft.ai/events/63895-china-cuts-soybean-import-forecast-in-face-of-trade-war.md) | -1.4% | +1.2% |
| SBM | 2024-08-12 | [USDA Forecasts Record Soybean Crop](https://feedsoft.ai/events/28713-usda-forecasts-record-soybean-crop.md) | -6.5% | -2.3% |
| SBM | 2020-08-12 | [USDA forecasts record high corn, soybean yields](https://feedsoft.ai/events/51457-usda-forecasts-record-high-corn-soybean-yields.md) | +5.0% | +10.2% |

## Sources

- farmingportal.co.za: http://farmingportal.co.za/index.php/farming-news/africa-world/806-usda-slashes-china-soybean-import-forecast-9-5

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.