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Chinese companies say they are securing overseas soybeans and soybean meal substitutes to offset falling US soybean imports. Over 36 million tons of South American soybeans arrived in China during May-August, and COFCO has inquired about canola, cottonseed and sunflower meals from India, Canada and Ukraine.
Replacing US soybeans and soybean meal with South American beans and alternative meals reduces US export demand and keeps pressure on US soybean and meal prices, while supporting competing meals such as canola meal.
chinadaily.com.cnAug 20, 2018chinadaily.com.cn杨洋Aug 20, 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.
Not enough comparable past events yet for a historical read.
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.
Not enough comparable past events yet for a historical read.
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.
