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US consumer prices surged in April, with core PCE inflation rising 0.7% monthly and 3.1% year-on-year, the largest annual gain since 1992. Analysts attributed the increase to pent-up demand and supply constraints as the economy reopens.
The Fed chair maintains that inflation will be transitory.
Broad inflation strength supports commodity price expectations and raises input cost pressure for feed producers. Fed reassurance that policy will not change limits the immediate dollar reaction.
reuters.comLucia MutikaniMay 28, 2021After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% 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.
