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USDA’s Foreign Agricultural Service forecasts China’s 2026/27 soybean imports at 110 million tonnes, 1.8% above its previous estimate, with crushing projected at 106 million tonnes. Soybean oil exports are forecast to reach a record 1.35 million tonnes as domestic oil consumption weakens; state-owned firms are buying US soybeans while private buyers favor South American supplies amid tariffs.
Higher Chinese import and crush demand supports soybean demand and may boost soybean meal availability, while weaker oil consumption and record oil exports could weigh on soybean oil prices. Shifting purchases between US and South American origins also affects export demand and trade flows.
in.investing.comNov 6, 2026After 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
