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Investors sold the South African rand ahead of a credit rating review by Moody's, scheduled for the following day. The text is truncated, so the full scale of the move is not available.
A weaker rand raises the local cost of dollar-priced feed ingredients for South African buyers and adds to pressure on import costs. Impact on global feed prices is limited.
wsj.comIra IosebashviliOct 31, 2019Not 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.
