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The Poultry Site analysis says corn and soybean meal are in a bear market due to ample world supplies and slow demand growth. Corn is expected to average under $5.00 per bushel this crop year, down from $6.54 last year, and the bear market may last into 2024-25.
Lower corn and meal prices cut feed costs for poultry producers, while grain sellers face weaker prices unless drought tightens supply.
meatpoultry.comErica ShafferMar 22, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
