Chinese soybean imports reached 6.13 million tonnes in May, up 15.4% from April, and analysts forecast arrivals could reach 8.5 million tonnes in June. The inflow of previously contracted South American beans coincided with weak pig numbers and soybean meal prices at an eight-year low.
Heavy arrivals add to domestic soybean availability and pressure crush margins and soybean meal prices. Weak livestock numbers further constrain meal demand.
After 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 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.
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.