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Rabobank forecasts China's hog feed consumption will fall 40% in 2019 and overall animal feed consumption will drop 17%, with a rebound of 8% in 2020. Soybean meal demand is expected to fall 6% and feed corn demand 12% in 2019.
A large drop in Chinese feed demand, especially for corn and soymeal, removes a major source of import demand and is bearish for feed grain and protein prices.
feedstrategy.comAnn ReusOct 3, 2019After 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, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
After 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% 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.
