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China's January supply-demand estimates (CASDE) put 2017/18 soybean imports at 96 million mt, up 2.6% year on year and unchanged from December. Domestic soybean output was cut by 290,000 mt to 14.6 million mt on lower planted area, with the shortfall drawn from stocks.
Import cost guidance was CNY 3,050-3,250/mt, about $472-503/mt.
A steady import forecast with cheaper South American weather and high global output supports continued Chinese demand for Brazilian and US beans, with little immediate price push for US soybeans.
agricensus.comJan 12, 2018After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
