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The CME Group says the dollar has rallied ahead of Fed tightening and on safe-haven flows linked to Russia's invasion of Ukraine. A stronger dollar raises the cost of US grain and oilseed purchases for importers.
A firmer dollar acts as a headwind to US corn and soybean export demand, partly offsetting the price support from South American drought and the Black Sea conflict.
cmegroup.comCME GroupApr 1, 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 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.
