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The yuan hovered near a one-month low against the dollar as investors awaited US and Chinese economic data. The yuan is down 2% this year and set for a fifth monthly drop in May, with the PBOC midpoint set at 7.1091.
Persistent yuan weakness raises the cost of dollar-priced imports for Chinese feed buyers, a mild negative for demand for US grains and meal.
brecorder.comReutersMay 27, 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.
