Loading…
China issued guidelines recommending lower corn and soymeal inclusion in poultry and pig feed after a domestic output drop and state stockpile declines pushed corn prices up. Alternatives such as wheat, barley, sorghum, rapeseed meal, cottonseed meal and DDGS are endorsed, and China imports about 100 million tons of soybeans a year.
Shifting Chinese formulations toward cheaper substitutes may trim import demand for corn and soymeal, though analysts doubt the effect will be large in the near term.
farmingportal.co.zaMay 31, 2021After 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 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 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% 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.
