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Rising grain prices are changing global feed trade flows, with Perdue Farms buying Brazilian soybeans, BRF sourcing corn from Argentina, and feed makers in China and the US buying wheat. The shift reflects the high cost of feeding poultry, pigs and cattle.
Buyers substituting wheat for corn and sourcing soybeans from new origins shows how tight grain supplies are reshaping demand, supporting wheat and soybean prices and shifting trade flows toward Brazil and Argentina.
bloomberg.comIsis AlmeidaApr 29, 2021After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
