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Japan's current account surplus shrank sharply as the weak yen raised the cost of imports, including commodities and oil that were already elevated by the Ukraine war. The trade deficit added pressure on the overall current and trade accounts.
A weak yen raises Japan's cost of imported feed and energy, which can reduce purchasing power for grain and meal. This is a modest factor for global feed demand.
reuters.comTetsushi KajimotoFeb 8, 2023Not enough comparable past events yet for a historical read.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% 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.
