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China's Feed Industry Association approved new standards lowering protein levels in pig feed by 1.5 percentage points and in chicken feed by 1 percentage point. The agriculture ministry said overall annual soymeal use would fall by 11 million tonnes, and soybean consumption by 14 million tonnes, about 13 percent of the prior crop year.
The standards are guidelines with no implementation date.
Lower soymeal inclusion in China, the world's top soybean buyer, reduces expected import demand and weighs on soybean and soymeal prices, though the non-binding nature limits the near-term impact.
business-standard.comReutersOct 29, 2018After 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.
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.
