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Ceva's May outlook reports that global farm input and commodity prices rose during May on unfavorable weather. It cites confirmed Argentine corn losses to disease, with the Buenos Aires Grain Exchange cutting its estimate to 46.5 Mt from 55 Mt, plus Brazilian flood disruption and delayed European sowing.
European soybean meal reached $479/t, up $50/t from April.
Weather-driven crop losses in South America and delayed planting in Europe tighten feed grain and protein supplies, supporting corn and soybean meal prices for feed buyers.
poultry.ceva.comMay 31, 2024After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
