Loading…
The rand traded flat on the final trading day of 2020 at about 14.61 per dollar, on course to end the year near its January level. It has gained about 18% since early November, helped by Biden's US election win and COVID-19 vaccine progress, though South Africa's economic outlook remains weak.
A firmer rand lowers the local-currency cost of imported feed ingredients such as soymeal and corn, which marginally eases South African feed costs. The effect on global grain prices is minimal.
moneyweb.co.zaMfuneko Toyana, ReutersDec 31, 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.
