# Wilmar International - DBS Research 2017-04-11: Spot crush margins in China turn negative | SG Investors.io

> 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.

- Date: 2017-04-11 · published 2017-04-11T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/71573-wilmar-international-dbs-research-2017-04-11-spot-crush-margins-in-china-turn
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-12-20 | [China Trade War Rattles Investors in New US Soy Processing Plants](https://feedsoft.ai/events/61650-china-trade-war-rattles-investors-in-new-us-soy-processing-plants.md) | -3.4% | +1.9% |
| SOY | 2023-04-05 | [China's soybean demand likely to remain soft until May amid poor crush margins](https://feedsoft.ai/events/36386-china-s-soybean-demand-likely-to-remain-soft-until-may-amid-poor-crush-margins.md) | -0.9% | -4.6% |
| SOY | 2018-08-20 | [China’s soybean crush margin weakens - McKeany-Flavell](https://feedsoft.ai/events/63602-china-s-soybean-crush-margin-weakens-mckeany-flavell.md) | -4.5% | -6.6% |
| SOY | 2019-08-02 | [MARKET WATCH: NYMEX oil prices tumble on US-China relations \| Oil & Gas Journal](https://feedsoft.ai/events/8498-market-watch-nymex-oil-prices-tumble-on-us-china-relations-oil-and-gas-journal.md) | +2.1% | +1.1% |
| SOY | 2020-11-23 | [China crushers wash out US soybeans amid tight margins: trade - Fastmarkets](https://feedsoft.ai/events/50234-china-crushers-wash-out-us-soybeans-amid-tight-margins-trade-fastmarkets.md) | -1.1% | +5.3% |
| SBO | 2018-06-21 | [Plantation – Singapore - UOB Kay Hian 2018-06-21: Do Not Get Over-bearish On Palm Oil \| SG Investors.io](https://feedsoft.ai/events/64601-plantation-singapore-uob-kay-hian-2018-06-21-do-not-get-over-bearish-on-palm.md) | -1.2% | -5.2% |
| SBO | 2025-10-16 | [China’s act on US soybean may pressure crude palm oil’s competitiveness — RHB Research](https://feedsoft.ai/events/22492-china-s-act-on-us-soybean-may-pressure-crude-palm-oil-s-competitiveness-rhb.md) | +0.3% | -0.7% |
| SBO | 2019-05-24 | [MARKET WATCH: Oil prices tumble after US-China news \| Oil & Gas Journal](https://feedsoft.ai/events/9796-market-watch-oil-prices-tumble-after-us-china-news-oil-and-gas-journal.md) | +3.0% | +6.2% |

## Sources

- research.sginvestors.io: https://research.sginvestors.io/2017/04/wilmar-international-dbs-research-2017-04-11.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.