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Long-term US Treasury yields rose and the dollar strengthened as investors awaited clues on the timing of the Fed's bond-purchase reduction. Markets were also watching President Biden's first address to Congress and the Fed press conference.
Copper and wheat rallies had stalled for the time being.
A firmer dollar tends to weigh on dollar-denominated grain and oilseed prices, and it changes the cost of imports for emerging-market feed buyers. The market reaction is routine commentary rather than a new supply or demand shock.
accivalores.comAccionesyvaloresApr 27, 2021After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
