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The pound fell to its lowest level against the US dollar in more than three months after a double dose of weak UK economic data. Currency dealers concluded the Bank of England would drop plans to raise interest rates at its next meeting.
A weaker pound raises the cost of imported feed ingredients priced in dollars for UK buyers and shifts the outlook for sterling-linked feed costs. The macro currency move is the main price driver here rather than any grain fundamental.
theguardian.comLarry ElliottMay 1, 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.
