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The Thai baht extended losses to near a three-year low against the dollar, on track for its worst week since late March. The slide followed Thailand extending strict COVID containment measures and expanding lockdown areas.
The central bank cut its 2021 growth forecast to 0.7%, and consumer confidence hit a record low in July.
A weaker baht raises the local cost of imported feed ingredients priced in dollars, such as corn and soybean meal, for Thai feed mills. Persistent lockdowns also weigh on demand for animal protein and feed.
reuters.comHarish SridharanAug 6, 2021Not enough comparable past events yet for a historical read.
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.
