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Minutes of the Federal Reserve's policy meeting showed officials willing to let inflation move past 2% before tightening. The Fed has pledged to keep its overnight rate near zero until inflation is on track to moderately exceed target and the job market nears maximum employment.
A sustained low-rate stance supports commodity prices and a weaker dollar, which generally favors dollar-priced feed ingredients.
reuters.comHoward Schneider, Ann SaphirFeb 17, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% 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.
