APHIS reports HPAI confirmed in 29 states with more than 33 million domestic birds affected. USDA transferred nearly $263 million from the Commodity Credit Corporation to fund the emergency response.
A growing bird toll reduces poultry and egg output, which is bullish for chicken and bearish for demand for corn and soymeal in layer rations over time.
Not enough comparable past events yet for a historical read.
After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.