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Chinese soybean meal futures rose to a five-month high after environmental inspectors shut several processing plants in Dongguan, Guangdong, China's third-largest soybean processing region. Chinese meal stocks had reached their lowest level in 18 months before the crackdown.
Reduced crushing capacity tightens domestic meal supply ahead of the Lunar New Year peak in meat demand, supporting meal prices and feed costs in China.
zmp.deDec 13, 2016After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
