# Market Perspectives - December 19, 2024 - U.S. Grains & BioProducts Council

> The November US producer price index rose 0.4% month on month, above expectations, with food prices up 3.1% led by a 55% jump in egg prices due to bird flu. The Federal Reserve cut rates by 25 basis points but signaled fewer cuts next year, and US stocks sold off sharply.

- Date: 2024-12-19 · published 2024-12-19T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/11563-market-perspectives-december-19-2024-u-s-grains-and-bioproducts-council
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher food inflation and a hawkish Fed outlook strengthen the dollar and tighten financial conditions, which can weigh on commodity prices. Bird flu losses in egg production point to tighter poultry feed demand.

## Read by commodity

- DXY: bullish ▲
- SOY: neutral
- CORN: neutral
- DDGS: neutral
- CHICKEN: bullish ▲
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-02-24 | [Economist expects new considerations in grain markets \| 2020-02-24  \| World Grain](https://feedsoft.ai/events/54625-economist-expects-new-considerations-in-grain-markets-2020-02-24-world-grain.md) | -0.8% | -3.1% |
| SOY | 2017-02-03 | [LIVESTOCK MARKETS: Commodity bubble to start inflating](https://feedsoft.ai/events/72614-livestock-markets-commodity-bubble-to-start-inflating.md) | +1.3% | -1.0% |
| SOY | 2025-08-15 | [2025 farm profit forecast: Negative, despite bigger government payments](https://feedsoft.ai/events/23305-2025-farm-profit-forecast-negative-despite-bigger-government-payments.md) | +2.6% | +1.7% |
| SOY | 2018-06-04 | [Market Outlook Considerations for Week Beginning June 4, 2018](https://feedsoft.ai/events/6747-market-outlook-considerations-for-week-beginning-june-4-2018.md) | -5.1% | -15.9% |
| SOY | 2024-11-13 | [PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder](https://feedsoft.ai/events/6696-pboc-pulls-china-s-yuan-off-3-month-low-with-stronger-than-expected-fix-markets.md) | -0.5% | -0.8% |
| CORN | 2020-02-24 | [Economist expects new considerations in grain markets \| 2020-02-24  \| World Grain](https://feedsoft.ai/events/54625-economist-expects-new-considerations-in-grain-markets-2020-02-24-world-grain.md) | -2.5% | -5.2% |
| CORN | 2019-07-23 | [High production, competing proteins, closed foreign markets challenge U.S. chicken industry](https://feedsoft.ai/events/58239-high-production-competing-proteins-closed-foreign-markets-challenge-u-s-chicken.md) | +0.9% | -10.8% |
| CORN | 2020-11-20 | [Decoding the price fluctuations of 2020 feed byproducts - High Plains Journal](https://feedsoft.ai/events/50261-decoding-the-price-fluctuations-of-2020-feed-byproducts-high-plains-journal.md) | +0.1% | +1.2% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-december-19-2024/
- grains.org: https://grains.org/market_perspectives/market-perspectives-december-19-2024/5/
- grains.org: https://grains.org/market_perspectives/market-perspectives-december-19-2024/6/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.