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Egg prices are declining after a major spike, with consumers buying fewer eggs after Easter. The USDA reported 387 million egg-laying hens as of May 1, up 5% from a year earlier.
A larger laying flock means more feed use over time, a modest support for corn and soymeal demand, though the immediate price effect is small.
usatoday.comBailey SchulzJun 6, 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.
