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South Africa's rand weakened in early trade on March 31, 2021, to 14.94 per dollar as investors sought safe-haven assets. Fears of rising coronavirus infections and higher U.S. bond yields dampened demand for emerging-market assets.
The dollar rose to a one-year high against the yen.
A weaker rand raises the rand cost of imported feed inputs and makes South African buyers pay more for soy and corn imports priced in dollars. The effect on global feed prices is small.
cnbcafrica.comReutersMar 31, 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.
