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  • Last minute rains, USDA optimism hammer feed crop prices
  • • Heavy pollination period rains break the Midwest's drought, creating a bearish market for corn and most especially, soy. • China's more serious drought will not provide any price support to the world market • Excessive USDA optimism may result in harvest time disappointment, a small late Q3 to mid Q4 rally
  • Poultry-driven Indonesian feed and livestock takes off
  • After a decade of stagnation, the 2010s have seen chicken output triple as Indonesia prepares to take its place as Southeast Asia's leading feed producer. Even so, a protectionist corn policy undermines poultry productivity and threatens the sector's long-term health.
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