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Commodity prices, including copper, steel, corn and lumber, surged early in 2021 to levels not seen in years. Analysts expect the rally to continue as the US economy gets fiscal stimulus and Europe reopens after vaccine rollouts.
Broad reflation and reopening demand supports raw material prices, with China's output cuts and buying adding to firmness. Higher input costs feed through to feed grain and energy-linked costs for buyers.
livemint.comBloombergMay 1, 2021After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
