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A global dairy update reports that supply fundamentals changed little since June while commodity prices eased across the board. Grain and oilseed prices fell sharply due to investment fund selling rather than changes in crop conditions, amid rising recession fears and softer consumer demand.
Fund-driven selling in grains and oilseeds, along with weaker dairy demand, points to lower feed ingredient and dairy prices, although underlying supply conditions have not changed.
en.edairynews.comDesirée JuarezJul 4, 2022After 49 past bearish macro events, Milk (Class III) moved a median -0.6% over 5 sessions (33% higher; middle half -8.5% to +0.6%), and -7.5% over 20.
After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), 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.
Global dairy update dated 2022-07-04 reports commodity prices easing across the board amid recession fears and softer demand, a sentiment and demand driver for the Class III drop.
