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Poultry Perspectives' Paul Aho, speaking at the International Production & Processing Expo, said commodity prices have likely bottomed and corn prices are near a low. He expects a 2-3% rise in interest rates soon and predicted millions of acres will shift from corn to soybeans this year.
Expected acreage shifts from corn to soybeans and a possible corn price rise would affect feed cost assumptions for buyers. These are forecasts from one analyst, so the price signal is moderate.
feedstuffs.comKrissa Welshans 1Feb 3, 2017After 151 past bullish macro events, CORN moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 50 past neutral macro events, SOY moved a median -0.3% over 5 sessions (48% higher; middle half -2.2% to +1.3%), and -0.8% over 20.
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.
