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Brazil is strengthening its H5N1 bird flu defenses, as nearly $10 billion in chicken exports would be at risk if the virus reaches commercial flocks. Brazil has become a major supplier of poultry and eggs as importers ban poultry from countries with the virus.
Bird flu has already pushed up poultry and egg prices.
An outbreak in Brazil would disrupt a leading chicken export supply and could tighten global poultry markets, supporting chicken prices. Lost demand for feed in Brazil would be a bearish offset for corn and soymeal.
reuters.comAna ManoMay 17, 2023Not enough comparable past events yet for a historical read.
After 145 past neutral disease events, Corn moved a median +0.4% over 5 sessions (58% higher; middle half -1.2% to +1.7%), and +0.0% over 20.
After 98 past neutral disease events, Soybean Meal moved a median -0.2% over 5 sessions (44% higher; middle half -1.9% to +1.5%), and -0.4% 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.
