
Indonesia's state logistics agency Bulog plans to buy corn from commercial feed millers to cover a 107,867-tonne shortfall in its SPHP stabilisation programme. The move comes as El Niño trims domestic output.
State buying of corn from feed millers tightens domestic feed corn supply in Indonesia and supports local corn prices, while higher soybean meal prices add to feed cost pressure.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.