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Bird flu was detected in an Iowa egg-laying flock affecting 4.2 million birds, the largest US outbreak since 2022. The affected producer is a top US egg producer with nearly 12% of the country's layer hens.
A loss of this size tightens egg supply and reduces layer feed demand, a bearish factor for corn and soybean meal, while lifting egg prices.
bloomberg.comMichael HirtzerMay 28, 2024After 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.
