Feed Market Brief Nov 5: Ingredients Firm, Formulas Cheaper Before WASDE
Corn, soybeans and soybean meal edged up even as crude fell, while least-cost template feed formulas remain 3-6% cheaper over four weeks. China purchase headlines and Black Sea shipping are the swing factors before the Nov 10 WASDE.
· Feedsoft 市场分析台
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Crude fell. Feed ingredients didn't.. Corn rose 0.4%, soybeans 1.0% and soybean meal 0.5% today, even as crude slid after the US midterm results and hopes of an end to the Iran conflict.
Still cheaper than four weeks ago. Least-cost template feed formulas are 3-6% cheaper over four weeks. Corn is $210.03/mt, in the lower quarter of its 52-week range.
Soybean meal alternatives aren't cheap. Soybean meal is $393.43/mt, mid-range. Canola meal, fishmeal and DDGS are all near 52-week highs, so the alternatives cost real money too.
Next test: WASDE on Nov 10. China purchase headlines and Black Sea shipping news are the main swing factors before the USDA report. Check the full brief for the details.
阅读完整分析：feedsoft.ai/brief/2026-11-05
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市场信息，不构成投资建议。