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The Korean won weakened to a 14-month low of about 1,198.8 won per dollar on October 12, 2021, nearly reaching 1,200 for the first time since July 2020. Investors moved to safe-haven assets amid inflation concerns, and WTI rose above $82 per barrel, its highest since 2014.
A weaker won raises the local-currency cost of dollar-priced imports such as corn, soybean meal and other feed ingredients, which pressures Korean feed buyers' margins. Higher oil prices also lift freight and energy costs across the feed supply chain.
koreaherald.comJie Ye-eunOct 12, 2021Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
