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Rabobank's latest animal protein report says global poultry markets are moving toward more normal conditions, with poultry consumption growing. Global chicken prices rose 2%, and feed prices increased 1% for the first time in two years due to weaker harvest expectations in Brazil, North America and Europe.
Stronger poultry demand supports chicken prices and feed ingredient demand. Higher feed prices reflect tighter grain and oilseed supply expectations.
meatpoultry.comRachael OatmanJul 2, 2024Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), 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.
