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USDA forecasts China's 2018-19 soybean imports rising to 100.5 million tonnes from 97 million, with domestic soybean acreage and output also expected to increase under government support. Ending stocks are forecast at 19.5 million tonnes.
Strong Chinese import demand supports global soybean prices, but expanding domestic output and rising stocks could limit import growth and cap upside for exporters.
world-grain.comArvin DonleyJun 29, 2018After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
