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China's soybean and soymeal futures fell on Monday on concerns that African swine fever outbreaks would reduce feed demand, alongside forecasts for a record US crop. Soybean futures fell to their lowest level in nearly 10 years, and soymeal dropped to near a two-month low.
Lower expected hog herd size from African swine fever reduces demand for soymeal, and a record US crop adds supply, so both pressure soybean and soymeal prices.
reuters.comAug 27, 2018After 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
After 117 past bearish disease events, Lean Hogs moved a median -0.6% over 5 sessions (36% higher; middle half -2.2% to +1.6%), and +1.2% 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.
