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Surging wheat and corn prices are pushing Asian animal feed buyers toward low-grade broken rice for livestock rations. Importers in China, the largest feed market, are negotiating extra volumes of broken rice to fatten hogs and other animals.
Substituting broken rice for wheat and corn in feed tightens rice supplies and lifts rice prices while corn and wheat remain elevated. Feed buyers face higher costs across grain-based rations.
euronews.comMar 16, 2022euronews.comMar 16, 2022
reuters.comNaveen ThukralMar 16, 2022Not enough comparable past events yet for a historical read.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
