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Sterling fell as much as 2.5% to $1.3188 after a new COVID-19 strain was reported in the UK and another Brexit deadline passed without a deal. Dover halted traffic to the continent, and the pound recovered most of the loss after Boris Johnson made a new offer to salvage talks.
A weaker pound raises the sterling cost of dollar-priced feed and grain imports into the UK, while Dover disruption threatens feed delivery times. The price effect on grain futures is limited.
aljazeera.comMichael G. Wilson, Jill Ward, William Shaw, BloombergDec 21, 2020Not 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.
