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China will scrap its value-added tax rebate on soymeal exports starting November 1. The article notes China imports soybeans to make soymeal and exported less than 1 million tonnes of soymeal last year.
Removing the rebate raises the cost of Chinese soymeal exports, which could tighten export supply and support international meal prices while modestly shifting trade flows.
reuters.comOct 25, 2018After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), 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.
