Loading…
Fed Chair Jerome Powell's hawkish Jackson Hole speech pushed US real yields higher, equities down around 4% and the dollar stronger. Markets scaled back expected easing for 2023 after the speech.
A firmer dollar and higher US real yields pressure dollar-priced grain and oilseed exports and raise the cost of carrying feed inventories.
think.ing.comChris Turner, Frantisek Taborsky, Francesco PesoleAug 30, 2022After 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 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.
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.
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.
