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The USDA projects global soybean consumption to grow 4% in 2017/18, led by China's protein feed demand. China's soybean imports are forecast to hit a record 93 million tonnes, and imports from October to April reached 49.6 million tonnes, 4.2 million more than a year earlier.
Record Chinese soybean imports tighten global supply for crushers and feed buyers, supporting soybean and soymeal prices. Strong protein feed demand underpins meal values.
poandpo.comJun 19, 2017After 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
