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Hedge funds are increasing options bets that the South Korean won will follow the Taiwan dollar's recent rally against the U.S. dollar. Dollar-won option volume hit a 2025 high last week, and Barclays reported higher demand for put options from hedge funds.
Speculation centres on currency talks between Korea and the U.S.
The positioning points to expected won appreciation, which would ease import costs for Korean feed buyers. The effect on grain and meal prices is indirect and likely small.
Not enough comparable past events yet for a historical read.
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.