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China's industrial feed output rose 2.2% year on year in September 2026 to 32.05 million tons, and January–September output reached 261.67 million tons, up 3.5%. Corn accounted for 30.2% of complete compound feed formulations, down 3.4 percentage points, while soybean meal's share fell 1.4 points to 12.9%.
Lower corn and soybean meal inclusion in Chinese feed formulas reduces import demand for these ingredients even as total feed output grows, which is bearish for corn and soymeal prices. Finished feed prices were broadly stable, down 1% year on year.
ukragroconsult.comNov 3, 2026After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
