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The rand pushed past 12 per dollar on January 24, reaching 11.95 at the Johannesburg close, its first break of that level since 2015. The currency's recovery is attributed to the dollar's weakness, Ramaphosa's anti-corruption push, and expectations that President Zuma may step down.
A firmer rand lowers the cost of imported feed ingredients priced in dollars for South African buyers. The move reflects local politics and currency factors and does not change global feed supply.
qz.comLynsey Chutel, Dan KopfJan 25, 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.
