# COFCO: China Will Look to the World for Other Protein Souces | Red River Farm Network

> COFCO, a major Chinese state-owned trader, said China can replace US soybean imports with supplies from Brazil and Argentina. It also said China can buy more soybean meal, sunflower meal, canola meal and fishmeal.

- Date: 2018-07-12 · published 2018-07-12T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/64150-cofco-china-will-look-to-the-world-for-other-protein-souces-red-river-farm
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Fishmeal](https://feedsoft.ai/c/FISHMEAL.md)

## Why it matters

Signals durable shifts in China's protein sourcing away from US product, which weakens US export demand and supports Brazilian and Argentine soy and meal flows.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: bullish ▲
- SUNMEAL: bullish ▲
- FISHMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-05-02 | [Pulling the Trigger on Soybean Prices \| Red River Farm Network](https://feedsoft.ai/events/4610-pulling-the-trigger-on-soybean-prices-red-river-farm-network.md) | -3.0% | -1.9% |
| SOY | 2021-12-28 | [A Narrow Export Window Possible for U.S. Soybeans \| Red River Farm Network](https://feedsoft.ai/events/43633-a-narrow-export-window-possible-for-u-s-soybeans-red-river-farm-network.md) | -1.4% | +3.3% |
| SOY | 2018-08-08 | [Canola Farmers Feel Tariff Impact \| Red River Farm Network](https://feedsoft.ai/events/63516-canola-farmers-feel-tariff-impact-red-river-farm-network.md) | -2.8% | -7.2% |
| SOY | 2018-08-08 | [China has expanded the use of low protein animal feed formulas](https://feedsoft.ai/events/63515-china-has-expanded-the-use-of-low-protein-animal-feed-formulas.md) | -2.8% | -7.2% |
| SOY | 2018-07-06 | [New Chinese Tariffs Mean Lower Prices For Wisconsin Farmers - WPR](https://feedsoft.ai/events/4970-new-chinese-tariffs-mean-lower-prices-for-wisconsin-farmers-wpr.md) | -0.7% | +5.6% |
| SBM | 2018-05-02 | [Pulling the Trigger on Soybean Prices \| Red River Farm Network](https://feedsoft.ai/events/4610-pulling-the-trigger-on-soybean-prices-red-river-farm-network.md) | -3.5% | -6.5% |
| SBM | 2019-02-08 | [Soybean Processing Capacity in Expansion Phase \| Red River Farm Network](https://feedsoft.ai/events/60664-soybean-processing-capacity-in-expansion-phase-red-river-farm-network.md) | 0.0% | -2.1% |
| SBM | 2018-07-08 | [China’s demand for protein could increase rapeseed prices  : The Daily Digest](https://feedsoft.ai/events/64131-china-s-demand-for-protein-could-increase-rapeseed-prices-the-daily-digest.md) | -3.2% | -2.1% |

## Sources

- rrfn.com: https://www.rrfn.com/2018/07/12/cofco-china-will-look-to-the-world-for-other-protein-souces/

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