
China's November soybean imports rose 13.4% year on year to 8.11 million tons, the highest November level since 2021. Full-year 2025 imports are on track for a record near 110 to 112 million tons, driven by Brazilian purchases and US trade truce arrivals.
Domestic crusher inventories are high, adding selling pressure.
Record Chinese imports confirm strong global soybean demand, but high crusher stocks may curb near-term buying and weigh on meal prices. Feed buyers should watch for slower purchases in early 2026.
在过去 696 次看涨的贸易事件之后,大豆 在 5 个交易日内中位数变动 +0.3%(54% 上涨;中间一半区间为 -1.3% 至 +1.9%),20 个交易日内为 +0.7%。
在过去 224 次中性的贸易事件之后,豆粕 在 5 个交易日内中位数变动 -0.2%(43% 上涨;中间一半区间为 -1.7% 至 +1.2%),20 个交易日内为 -0.2%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。