# China’s soybean crush margin weakens - McKeany-Flavell

> McKeany-Flavell reports that soybean import tariffs and a weaker renminbi have squeezed Chinese soybean crush margins. China may shift toward importing soybean meal rather than beans, and Argentina suspended its soymeal export tax partly to meet Chinese meal demand.

- Date: 2018-08-20 · published 2018-08-20T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/63602-china-s-soybean-crush-margin-weakens-mckeany-flavell
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A shift in China toward meal imports reduces its demand for soybeans and supports Argentine and Brazilian meal flows, weighing on U.S. soybean and meal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.4% | -6.5% |
| SOY | 2021-03-24 | [Weak crush margins likely to keep China's soybean demand low until May: sources \| S&P Global](https://feedsoft.ai/events/48203-weak-crush-margins-likely-to-keep-china-s-soybean-demand-low-until-may-sources.md) | -4.0% | +5.2% |
| SOY | 2023-04-05 | [China's soybean demand likely to remain soft until May amid poor crush margins](https://feedsoft.ai/events/36386-china-s-soybean-demand-likely-to-remain-soft-until-may-amid-poor-crush-margins.md) | -0.9% | -4.6% |
| SOY | 2018-07-23 | [U.S. Soybean Crush Margins at 2nd Highest Levels Ever](https://feedsoft.ai/events/64104-u-s-soybean-crush-margins-at-2nd-highest-levels-ever.md) | +2.4% | +3.7% |
| SOY | 2020-11-23 | [China crushers wash out US soybeans amid tight margins: trade - Fastmarkets](https://feedsoft.ai/events/50234-china-crushers-wash-out-us-soybeans-amid-tight-margins-trade-fastmarkets.md) | -1.1% | +5.3% |
| SBM | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.3% | -9.4% |
| SBM | 2026-09-07 | [Ahead of Xi's US visit, China's soybean crushers face high costs, weak margins \| Reuters](https://feedsoft.ai/events/17463-ahead-of-xi-s-us-visit-china-s-soybean-crushers-face-high-costs-weak-margins.md) | +0.8% | +0.7% |
| SBM | 2021-03-24 | [Weak crush margins likely to keep China's soybean demand low until May: sources \| S&P Global](https://feedsoft.ai/events/48203-weak-crush-margins-likely-to-keep-china-s-soybean-demand-low-until-may-sources.md) | -0.5% | +2.5% |

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/chinese-soybeans-production-vs-crush-08-20-18/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.