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Banco de la República kept its benchmark rate unchanged at 12.25% on 30 October after a 25 basis point hike at the previous meeting. Inflation rose slightly to 6.03%, a little below expectations, while core inflation eased to 6%.
Colombia's tight monetary stance and El Niño upside risk to food prices point to firmer domestic feed and food costs, while the peso's behavior affects the import cost of feed ingredients.
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.