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The rand touched a five-month high of about 13.99 per dollar on December 30, aided by easing China-US trade tensions and demand for high-yield emerging market assets. China's commerce ministry said it was in close contact with the US on signing the trade deal.
A stronger rand reduces the local-currency cost of imported feed inputs, while the easing trade tensions support broader grain demand sentiment.
moneyweb.co.zaMfuneko Toyana, ReutersDec 30, 2019Not enough comparable past events yet for a historical read.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), 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.
