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The Congressional Budget Office projected U.S. GDP could plunge 40% in the second quarter of 2020 with unemployment possibly staying in double digits into 2021. The dollar has risen to record highs against a basket of 26 trading partners, up 8% year to date, while emerging market currencies lost about 12% on average.
A stronger dollar makes U.S. commodities more expensive for foreign buyers, tending to weigh on U.S. crop prices while lifting farmers' local-currency returns abroad, especially in competing exporters.
dakotamidland.comApr 28, 2020
farmprogress.comBryce KnorrApr 28, 2020After 69 past bearish macro events, Wheat (SRW) moved a median -0.5% over 5 sessions (35% higher; middle half -2.6% to +0.8%), and -0.7% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
