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The dollar index posted its best daily gain in a month after a run of hotter-than-expected US inflation data cast doubt on the timing and size of Federal Reserve rate cuts. US 10-year yields rose toward their biggest weekly gain since October, and global stocks slipped.
A stronger dollar and higher US yields tend to pressure dollar-denominated grain and oilseed prices and reduce demand for US exports, which is bearish for feed commodities.
convera.comIngmar ApinisMar 15, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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.
