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ING's rates note said US rates should remain low after the Federal Reserve left policy unchanged, while the vote count in key states was still underway. It also flagged downside risk for GBP rates because the Bank of England is seen as more dovish than markets expect.
Expectations of low US rates tend to support a weaker dollar, which can underpin dollar-priced grain and oilseed markets. The note is analysis of rate expectations, with no direct supply or demand change for feed.
think.ing.comPadhraic Garvey, CFA, Benjamin SchroederNov 6, 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.
