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Chinese imports of Canadian rapeseed meal in March reached 107,719 metric tons, up 122% year on year. Imports of U.S. soybeans fell 27% over the same period while China bought 150,651 MT of Russian soybeans.
China is substituting Canadian meal and Russian beans for U.S. soybeans, which supports rapeseed meal demand and reduces U.S. soybean export volume and prices.
mckeany-flavell.comApr 27, 2018Not enough comparable past events yet for a historical read.
After 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.
