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Global equities and bank shares slid after Credit Suisse's largest investor said it could not provide further financial assistance. Oil plunged more than $5 a barrel to its lowest in over a year, while gold rallied and Treasury yields fell.
Lower crude prices reduce biofuel and energy input costs, pressuring soybean oil, corn and vegetable oil values, while a firmer dollar and weaker growth outlook weigh on feed commodity demand.
reuters.comChris Prentice, Dhara RanasingheMar 15, 2023After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 40 past bearish macro events, Soybean Oil moved a median -0.8% over 5 sessions (45% higher; middle half -4.5% to +1.7%), and -1.5% 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.
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.
