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Researchers in the UK are testing soybean meal replacements in poultry rations using alternative protein sources. The article notes China recently issued guidelines to reduce corn and soymeal in feed due to lower state stockpiles, and that wheat and other grains are being substituted.
China's push to cut corn and soymeal in feed reduces import demand for soymeal and corn, while growing substitution toward wheat and other grains is bearish for these feed ingredients over time.
foodagribusiness.worldTony McDougalAug 18, 2021After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), 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.
