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USDA data show US egg production in May rose 4% year on year to 9.37 billion eggs, signalling flock rebuilding after bird flu. Highly pathogenic avian influenza has affected 325 commercial flocks over the past year but no cases were reported in the prior 30 days.
Rising layer numbers and output gradually increase demand for feed ingredients such as corn and soybean meal, though the effect on prices is modest.
fooddive.comNathan OwensJun 28, 2023After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
