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Rabobank's October North American review finds feed grain substitutes such as barley, oats, rye, sorghum and wheat are scarce, limiting their ability to offset high corn prices. Dried distillers grains are pricier than soybean meal on a crude protein basis, and feed demand for soybean meal rose 2.4% year on year.
Scarce substitutes and high DDGS prices keep feed ration costs elevated, supporting demand for soybean meal and corn in US feed formulation.
feedstrategy.comAnn ReusNov 1, 2022After 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, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
