Loading…
The USDA Economic Research Service raised its first-quarter 2017 US broiler production forecast after strong hatchery data and a recovery in bird weights. The 2016 Q4 estimate was cut by 25 million pounds and 2016 export forecasts were lowered by 40 million pounds, with 2017 exports unchanged.
Higher expected broiler output increases feed demand for corn and soybean meal, but lower 2016 exports weigh on the demand outlook.
thepoultrysite.comGlobal Ag MediaFeb 6, 2017After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
