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The article analyzes the Three Month SOFR-€STR cross-currency basis, which narrowed from 175bp to 100bp and then widened back above 200bp since June 2024. It suggests the spread reflects relative USD and euro liquidity.
Cross-currency basis moves affect hedging costs for importers and exporters but have no direct link to feed commodity supply or demand. Impact on prices is negligible.
reuters.comChris Farran, CME GroupAug 18, 2025After 1,108 past macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% 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.
