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The Federal Reserve kept its benchmark overnight rate in the 4.25%-4.50% range and the decision was unanimous. The policy statement described the labor market as solid and unemployment as low.
Holding rates while signaling possible cuts keeps the dollar and financing costs in flux, which affects commodity prices and the cost of carrying feed inventories.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.