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El Niño has delayed Peru's anchovy fishing season from mid-April to mid-June. Surveys show anchovy biomass has deepened to around 100 meters and is mostly juvenile, with sea temperatures expected to keep rising into July.
The delay and juvenile-heavy catch limit fishmeal availability, supporting fishmeal prices and increasing demand for soymeal as a replacement protein.
tridge.comBichos de campoMay 25, 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.
