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USDA's August outlook raised the 2021 broiler production forecast on lower feed costs and increased the broiler price forecast slightly. The broiler export forecast was cut on weak key markets and slowing Chinese demand.
A higher 2021 production forecast supports feed grain demand, but weaker exports reduce it; net effect on feed prices is modest.
poultryproducer.comJimAug 21, 2020After 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.
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.
