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Investors have built large short positions against the Canadian dollar despite its five-month rally to around 76 US cents. Strategists note the currency has lagged its commodity and US dollar tailwinds, with Scotiabank's Shaun Osborne questioning the bearish sentiment.
Heavy speculative shorting on the loonie signals positioning risk that could reverse the currency's gains, which would affect the cost of Canadian-origin feed ingredients priced in US dollars. The commentary centers on currency positioning rather than a direct supply or demand change for feed.
theglobeandmail.comTim ShufeltAug 27, 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.
