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Derivatives activity on sterling is rising sharply as investors bet on a weaker pound ahead of Britain's March exit from the EU. Hopes of Brexit progress have lifted sterling to nine-week highs, but talks are expected to go down to the wire.
Heavier bearish currency positioning and rising implied volatility point to sharp swings in GBP, which affects dollar-denominated feed and commodity import costs for UK buyers. The direct grain price link is weak.
reuters.comSaikat ChatterjeeSep 21, 2018Not 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.
