# Ingredients Market Report: November 2023 - Unicorn Ingredients

> The ECB held rates after ten consecutive increases, and US GDP grew at nearly 5% annualised. The report also notes higher freight rates from China tied to the Israel/Gaza situation and firmer oil prices, plus renewed buying interest for 2024 in specialty ingredients.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/33753-ingredients-market-report-november-2023-unicorn-ingredients
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Firm oil and freight costs raise landed feed ingredient costs, while a strong US economy and steady ECB policy shape currency moves that affect import pricing.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-07-31 | [Market Report & Analysis for 7/31/2019 Morning Edition - Fuels Market News](https://feedsoft.ai/events/11291-market-report-and-analysis-for-7-31-2019-morning-edition-fuels-market-news.md) | -7.6% | -5.3% |
| WTI | 2020-11-27 | [Diesel markets closing out a strong November - FreightWaves](https://feedsoft.ai/events/50321-diesel-markets-closing-out-a-strong-november-freightwaves.md) | +0.1% | +5.6% |
| WTI | 2021-11-01 | [October 2021 Market Letter - IASG](https://feedsoft.ai/events/7317-october-2021-market-letter-iasg.md) | -2.7% | -16.3% |
| WTI | 2023-11-30 | [Canadian Dollar rallies into the green on Thursday despite mixed Canadian GDP results: Analytics and Market news from 30 November 2023 16:12](https://feedsoft.ai/events/33405-canadian-dollar-rallies-into-the-green-on-thursday-despite-mixed-canadian-gdp.md) | -11.0% | -7.4% |
| WTI | 2016-12-02 | [Farming News - Oilseed Market Report: Rise in sterling bodes ill for exporters](https://feedsoft.ai/events/73557-farming-news-oilseed-market-report-rise-in-sterling-bodes-ill-for-exporters.md) | -0.5% | +5.2% |
| DXY | 2024-05-06 | [Financial Markets Report - First Quarter of 2024](https://feedsoft.ai/events/30558-financial-markets-report-first-quarter-of-2024.md) | -0.1% | +0.2% |
| DXY | 2018-09-28 | [Market Report: Fed Funds Rate increased 0.25% — Goldmoney](https://feedsoft.ai/events/62955-market-report-fed-funds-rate-increased-0-25-goldmoney.md) | +0.6% | +1.3% |
| DXY | 2017-09-30 | [BPA Malaysia weekly bond market report 1 October 2017 \| Borneo Post Online](https://feedsoft.ai/events/69221-bpa-malaysia-weekly-bond-market-report-1-october-2017-borneo-post-online.md) | +0.6% | +1.6% |

## Sources

- unicorningredients.com: https://www.unicorningredients.com/marketreport/ingredients-market-report-november-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.