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The Fed held rates steady at 1.50-1.75% at its first meeting of 2020, with a unanimous decision. Chair Powell warned that the coronavirus outbreak in China could hurt Chinese output and spill over into the US economy.
The statement was little changed from December.
Coronavirus-driven slowdown fears in China, a major importer of feed ingredients, add downside risk to demand and prices across ag and energy markets.
aljazeeranews-mggx1uo47w.edgeone.appReutersJan 29, 2020After 32 past bearish disease events, Crude Oil (WTI) moved a median -5.2% over 5 sessions (13% higher; middle half -15.0% to -2.4%), and -5.7% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% 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.
