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China's yuan dipped against the dollar, opening at 7.2149 per dollar and trading 25 pips lower than the prior close. The currency remained up 0.3% on the week but was 1.8% weaker year to date.
Private and official PMI surveys both showed manufacturing weakening in July.
Persistent economic weakness in China dampens expectations for its feed and meat demand, a mild bearish signal for feed markets. The day's move is routine commentary without a new supply or demand shock.
finimize.comFinimize NewsroomAug 1, 2024Not 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.
