# Fresh from the Trading Room: Commodities comeback - CME Group

> The Federal Reserve cut rates by 50 basis points, starting its easing cycle, and the US dollar weakened. The article notes that commodities, including energy, agriculture and industrial metals, have historically rallied during rate-cut and dollar-weakening periods, and it flags possible Chinese stimulus.

- Date: 2024-09-24 · published 2024-09-24T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/5611-fresh-from-the-trading-room-commodities-comeback-cme-group
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker dollar and lower rates tend to support dollar-priced commodities and firm feed grain and energy prices, while the Chinese stimulus outlook adds demand upside.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-09-24 | 5 | +11.7% | 2.8 | The Fed's 50 bp cut and weaker dollar made US wheat cheaper for foreign buyers and drew fund inflows into commodities. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-06-20 | [The Commodities Feed: Dovish Fed sees commodities rally \| snaps \| ING THINK](https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think.md) | -1.1% | -0.8% |
| DXY | 2021-08-27 | [The Commodities Feed: USD holds the market back \| snaps \| ING THINK](https://feedsoft.ai/events/45481-the-commodities-feed-usd-holds-the-market-back-snaps-ing-think.md) | -0.9% | -0.0% |
| DXY | 2025-08-25 | [The Commodities Feed: Jerome Powell Provides a Boost to Most Markets \| Investing.com](https://feedsoft.ai/events/23251-the-commodities-feed-jerome-powell-provides-a-boost-to-most-markets-investing.md) | -0.1% | -0.4% |
| DXY | 2023-04-12 | [The Commodities Feed: All eyes on US CPI \| articles \| ING THINK](https://feedsoft.ai/events/36345-the-commodities-feed-all-eyes-on-us-cpi-articles-ing-think.md) | -0.4% | -0.6% |
| DXY | 2025-08-25 | [Jerome Powell at Jackson Hole: A turning point for Gold and Commodities?](https://feedsoft.ai/events/23249-jerome-powell-at-jackson-hole-a-turning-point-for-gold-and-commodities.md) | -0.1% | -0.4% |
| WTI | 2019-02-24 | [Commodities-A Phoenix Rising From The Ashes \| The Corner](https://feedsoft.ai/events/11845-commodities-a-phoenix-rising-from-the-ashes-the-corner.md) | -2.3% | +3.2% |
| WTI | 2019-06-20 | [The Commodities Feed: Dovish Fed sees commodities rally \| snaps \| ING THINK](https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think.md) | +10.2% | +2.6% |
| WTI | 2021-06-16 | [WCU Commodities back on track for a strong 2021 finish \| Saxo](https://feedsoft.ai/events/46625-wcu-commodities-back-on-track-for-a-strong-2021-finish-saxo.md) | +1.4% | +1.4% |

## Sources

- cmegroup.com: https://www.cmegroup.com/newsletters/fresh-from-the-trading-room/2024-09-24.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.