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Japan's animal feed sector faces sharply higher costs as the weaker yen and Russia's invasion of Ukraine have raised import prices. Feed prices have contributed to dairy farm bankruptcies, and Japan imports about 87% of its grain feed, mainly US corn.
Japan's heavy reliance on imported corn means a weak yen keeps landed feed costs high and supports demand for cheaper substitutes such as rice. This dampens import demand for US corn at the margin.
feedstrategy.comEugene GerdenApr 14, 2023After 301 past bearish macro events, CORN moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% 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.
