South Africa's agriculture department says it is working with industry on controlling the HPAI outbreak, which began with a June case in Mpumalanga. It has identified 92 positive locations and is studying vaccination of specific bird groups, which could reduce losses but might hurt trade.
Live-bird movements from affected farms are banned.
Vaccination or culling decisions would change South African poultry supply and import needs for feed grains and meal. Trade effects from a vaccination policy could be significant.
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.