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China Daily reports Chinese soybean processors have enough beans for production into early 2019 and plan more meal imports as substitutes. More than 36 million tons of soybeans were shipped from South America to China from May to August, and China's soybean imports from the U.S. have fallen sharply under tariffs.
Ample South American supply and substitution toward meal imports reduce Chinese demand for U.S. soybeans, pressuring U.S. soy prices.
chinadaily.com.cnLiu ZhihuaAug 19, 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.
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.
