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Poultry Producer's Q3 2023 quarterly outlook expects global poultry conditions to improve as lower feed prices flow through value chains. Feed prices are forecast to fall 10-15% below 2022 record highs, with record Brazilian corn and soybean harvests cited.
Expected lower feed prices reflect large South American and US grain supplies, supporting bearish pressure on corn and soymeal while improving poultry margins.
poultryproducer.comJimJul 11, 2023After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
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.
