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A Pro Farmer morning market note covers the presidential debate, with the yen falling past ¥160 per dollar, its weakest in almost 40 years. Corn, soybeans and wheat traded in tight ranges, and crude oil and the dollar index were firmer or weaker in mixed moves.
A weaker yen and firm crude have limited direct grain impact, but currency moves can affect US export competitiveness at the margin.
profarmer.comJim WiesemeyerJun 27, 2024Not enough comparable past events yet for a historical read.
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.
