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The Federal Reserve raised its target rate by a quarter point on Wednesday and continued to promise ongoing increases in borrowing costs. Powell did not rule out further hikes beyond December levels while acknowledging some signs of disinflation.
Higher US rates tend to strengthen the dollar, which pressures dollar-priced commodities and can make US grain and meal less competitive in export markets.
After 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.
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.