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World feed output fell 1.1% in 2019 to an estimated 1.1265 billion tonnes, the first drop in decades, according to Alltech's Global Feed Survey. African swine fever cut Asian hog feed output by about 35%, offsetting growth in Africa, Mexico and export-driven US and South American feed production.
A contraction in global feed demand, led by China's hog sector, weighs on demand for corn and soymeal, which is bearish for feed ingredient prices.
efeedlink.comefeedlinkFeb 10, 2020After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
