
A bird flu outbreak has hit egg-laying farms in Iowa, the top egg-producing state, with roughly 25 million hens dead or slated for euthanasia. Nationwide, the USDA counts about 33.5 million chickens, turkeys and ducks affected in the worst avian influenza outbreak in US history.
Losing a large share of laying hens cuts egg supply and tightens feed demand from layers, while the outbreak raises the risk of further flock losses and trade restrictions. Lower layer numbers are a bearish signal for corn and soymeal demand over time, though the effect on feed prices is modest.
After 175 past bearish disease events, CORN moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, SBM moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.