
Global feed ingredient prices moved in different directions on November 12, with wheat staying near its lowest level since early July below $6 per bushel. Corn and soybeans recovered after USDA revisions pointed to tighter US supplies.
Lower wheat prices ease feed costs for Vietnamese livestock producers, while the corn and soybean rebound raises input costs for compound feed makers. The USDA revisions and Russia-Ukraine talks are the main drivers to watch.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.