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Canada's economic growth data for February and a preliminary March estimate came in below forecasts, with GDP rising 0.2% against expectations of 0.3%. The Canadian dollar weakened slightly to C$1.3730 per U.S. dollar and the two-year bond yield rose.
Slower Canadian growth raises the odds the Bank of Canada cuts rates before the Fed, widening the rate gap and pressuring the loonie. A weaker Canadian dollar makes US-priced imports costlier for Canadian feed buyers, though the direct grain price effect is small.
reuters.comPromit MukherjeeApr 30, 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.
