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China's Ministry of Agriculture and Rural Affairs says pork output should return close to pre-ASF levels this year despite the coronavirus. Breeding sow stocks have risen for four consecutive months, up 8% from September.
The ministry pledged support on feed supply, transport and slaughterhouse resumption.
A recovering Chinese hog herd implies rising future feed demand, supportive for corn and soymeal over the coming year.
chinadaily.com.cnWang KejuMar 5, 2020After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 34 past bearish policy events, Lean Hogs moved a median -0.3% over 5 sessions (41% higher; middle half -1.6% to +1.3%), and -1.8% 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.
