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Bloomberg reported that China plans to feed its pigs less protein, with the agriculture ministry proposing rules to reduce soymeal use in feed. The move follows a trade dispute with the United States and aims to reduce reliance on US soybean imports.
Feed makers are expected to comply with the guidance.
Lower soymeal inclusion in China reduces import demand for soybeans and soymeal, pressuring prices, though the guidance is not yet binding.
agupdate.comAlfred Cang, Bloomberg NewsOct 9, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
