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Indian poultry farmers are seeking about 200 billion rupees ($2.7 billion) in loans after farm-gate chicken prices fell as much as 70% in March on coronavirus-related social media speculation. Prices have recovered to just above production costs, but banks are reluctant to lend.
Financial stress and culling in India's poultry sector limit near-term feed grain demand growth from that market, a modestly bearish factor for corn and meal.
livemint.comBloombergAug 4, 2020After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), 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.
