# Chinese Yuan Weakens Amid Contracting Exports, Imports on Struggling Demand

> China's October trade data missed forecasts, with imports falling 7% year-on-year and exports declining 0.3%. Soybean imports dropped 19%, while crude oil purchases rose 14%.

- Date: 2022-11-07 · published 2022-11-07T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/6251-chinese-yuan-weakens-amid-contracting-exports-imports-on-struggling-demand
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A 19% drop in soybean imports signals weaker Chinese demand for oilseeds and meal, which is bearish for global soybean prices and feed ingredient demand.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-01-14 | [China 2021 soybean imports slip 3.8% on falling margins, weak demand](https://feedsoft.ai/events/7370-china-2021-soybean-imports-slip-3-8-on-falling-margins-weak-demand.md) | +3.6% | +15.9% |
| SOY | 2019-10-14 | [China September soybean imports ease on falling animal feed demand](https://feedsoft.ai/events/56562-china-september-soybean-imports-ease-on-falling-animal-feed-demand.md) | -0.2% | -1.8% |
| SOY | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.4% | -6.5% |
| SOY | 2019-01-17 | [Soybean Closed Lower Amid Declining Chinese Demand](https://feedsoft.ai/events/61193-soybean-closed-lower-amid-declining-chinese-demand.md) | +2.4% | +1.0% |
| SOY | 2025-04-25 | [Grain transportation demand surges amid strong corn exports \| Feed & Grain](https://feedsoft.ai/events/16460-grain-transportation-demand-surges-amid-strong-corn-exports-feed-and-grain.md) | -1.2% | +1.4% |
| SBM | 2022-01-14 | [China 2021 soybean imports slip 3.8% on falling margins, weak demand](https://feedsoft.ai/events/7370-china-2021-soybean-imports-slip-3-8-on-falling-margins-weak-demand.md) | -4.6% | +6.9% |
| SBM | 2019-10-14 | [China September soybean imports ease on falling animal feed demand](https://feedsoft.ai/events/56562-china-september-soybean-imports-ease-on-falling-animal-feed-demand.md) | +0.5% | -0.7% |
| SBM | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.3% | -9.4% |

## Sources

- fxdailyreport.com: https://fxdailyreport.com/chinese-yuan-weakens-amid-contracting-exports-imports-on-struggling-demand/

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