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US money market futures now price about a 70% chance of a Federal Reserve rate hike by end-2022, up from 52% a week earlier. The shift reflects a broader Treasury sell-off on expectations that additional fiscal stimulus will lift growth and inflation.
Higher expected US rates tend to strengthen the dollar and weigh on dollar-priced commodities, a near-term headwind for feed ingredient prices.
brecorder.comReutersFeb 22, 2021After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 301 past bearish macro events, CORN moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 273 past bearish macro events, SOY moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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.
