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A Reuters poll of 10 respondents showed bullish bets on the Chinese yuan at a five-month high and reduced short positions in the Thai baht. Traders cited hopes for partial US tariff removals after a Biden-Xi virtual meeting and the reopening of Thailand's tourism sector.
A stronger yuan lowers the cost of dollar-priced US farm imports for China, which supports demand for US soybeans and corn if tariffs ease. The impact on feed prices is still speculative.
wsau.comSyndicated ContentNov 18, 2021After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
After 50 past neutral macro events, Soybeans moved a median -0.3% over 5 sessions (48% higher; middle half -2.2% to +1.3%), and -0.8% 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.
