Loading…
Reuters reported negative soybean crush margins in China, driven by a sharp fall in soyoil prices from higher vegetable oil imports, state rapeseed oil auctions and unwinding of Dalian long positions. Talk of China releasing up to 4.5 million tonnes of old-crop soybean reserves added pressure.
Weak crush margins could reduce palm oil imports into China.
Weaker Chinese crush margins cut demand for soybeans and palm oil and raise the risk of reserve releases, which is bearish for soy complex prices.
research.sginvestors.ioSGinvestorsApr 11, 2017After 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 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
