# Goldman’s Currie Says Buy Commodities Dip, Bull Case Intact - Bloomberg

> The Bloomberg Commodity Spot Index fell 3.6% on Thursday, its biggest one-day drop in almost 14 months, with soybeans giving up their 2021 gains. The decline followed Federal Reserve signals on possible rate increases, a stronger dollar, Chinese efforts to slow inflation, and rains easing U.S. crop concerns.

- Date: 2021-06-18 · published 2021-06-18T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5759-goldman-s-currie-says-buy-commodities-dip-bull-case-intact-bloomberg
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Firmer rate expectations and a stronger dollar weigh on commodity prices, and rain relief reduces weather premium in soybeans and corn.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2021-06-16 | 5 | -11.8% | -5.5 | Broad commodity index had its biggest drop in 14 months on a stronger dollar, hawkish Fed, China inflation curbs and rain easing crop worries, with soybeans giving up 2021 gains. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-02-01 | [No bull market ahead for commodities, Wells Fargo says](https://feedsoft.ai/events/66409-no-bull-market-ahead-for-commodities-wells-fargo-says.md) | -1.3% | +6.2% |
| SOY | 2024-04-28 | [US dollar, yields look set to close the gap with commodities](https://feedsoft.ai/events/30630-us-dollar-yields-look-set-to-close-the-gap-with-commodities.md) | +3.6% | +7.6% |
| SOY | 2019-06-09 | [China Central Banker Says No Specific Yuan Level Important - Bloomberg](https://feedsoft.ai/events/58817-china-central-banker-says-no-specific-yuan-level-important-bloomberg.md) | +4.7% | +2.2% |
| SOY | 2020-02-28 | [Commodity weekly Gold shines as the clouds darken \| Saxo](https://feedsoft.ai/events/54506-commodity-weekly-gold-shines-as-the-clouds-darken-saxo.md) | +0.3% | -0.7% |
| SOY | 2016-06-24 | [Ag Commodities, Companies Slapped Hard by Brexit Vote - 24/7 Wall St.](https://feedsoft.ai/events/9750-ag-commodities-companies-slapped-hard-by-brexit-vote-24-7-wall-st.md) | +4.5% | -10.5% |
| CORN | 2018-02-01 | [No bull market ahead for commodities, Wells Fargo says](https://feedsoft.ai/events/66409-no-bull-market-ahead-for-commodities-wells-fargo-says.md) | +0.6% | +2.1% |
| CORN | 2024-04-28 | [US dollar, yields look set to close the gap with commodities](https://feedsoft.ai/events/30630-us-dollar-yields-look-set-to-close-the-gap-with-commodities.md) | +0.9% | +4.7% |
| CORN | 2019-06-09 | [China Central Banker Says No Specific Yuan Level Important - Bloomberg](https://feedsoft.ai/events/58817-china-central-banker-says-no-specific-yuan-level-important-bloomberg.md) | +5.9% | +4.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-06-18/goldman-s-currie-says-buy-commodities-dip-with-bull-case-intact

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