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Rabobank's North American Agribusiness Review says animal feed costs will stay high through the rest of 2021. It notes soybean meal is trending lower but elevated, and that weather is the main driver of corn, with record US corn exports to China and a smaller expected Brazilian harvest.
Rabobank's outlook that feed prices stay elevated supports cost planning for buyers, though weather-driven selloffs and rallies will keep corn and meal volatile.
feedstrategy.comAnn ReusJun 25, 2021After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 55 past neutral weather events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
