Loading…
Rabobank's August 2020 North American Agribusiness Review says feed demand rose in the first half of 2020 during plant shutdowns, with corn demand up 0.4% and soymeal up 0.7%. It also notes a volatile corn year, with derecho losses estimated at 325 to 375 million bushels in Iowa.
Higher feed use and the estimated Iowa crop loss support corn and soymeal values, though Rabobank says the market has been slow to react.
feedstrategy.comAnn ReusSep 11, 2020After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 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, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
