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The Korean won averaged 1,371.24 per dollar in the second quarter of 2024, its weakest quarterly average since Q1 2009, and fell to a 15-year low. The depreciation occurred without a major financial shock, amid high US rates keeping the dollar strong.
Sustained won weakness raises the cost of dollar-priced feed ingredients for Korean buyers, supporting higher landed prices for imported corn, soybean meal and other feed inputs.
kedglobal.comDong-Wook JwaJul 7, 2024Not 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.
