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The International Grains Council reports China has expanded use of low-protein animal feed formulas, which could cut soybean imports by 5 million tonnes in 2018/19. China's canola and sunflower meal imports are expected to rise and could replace 6 million tonnes of soybean meal.
China National Grain and Oils Information Centre cut its 2018/19 soybean import estimate to 94 million tonnes.
Lower Chinese soybean and soymeal demand from feed reformulation and tariff-driven import cuts is bearish for soybeans and soybean meal, while alternative meals gain demand.
limpopoagriculture.co.zaDeidre CarterAug 8, 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.
Not enough comparable past events yet for a historical read.
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.
