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El Niño conditions are threatening Peru's second anchovy season in the north-central waters, a key raw material source for global fishmeal. Peru is described as a swing producer for the global fishmeal market.
El Niño-driven risk to Peruvian anchovy catches tightens fishmeal supply, supporting prices for fishmeal and soymeal substitutes.
intrafish.comJohn Evans, Hanna GezeliusJul 10, 2023Not enough comparable past events yet for a historical read.
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.
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.
