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Merrill Lynch FX strategist Ben Randol said in a Dec. 15 report that hedge funds are rapidly unwinding long Canadian dollar bets.
He expects the loonie to fall to 75 U.S. cents early in 2018 as retail investors follow.
A weaker Canadian dollar makes Canadian-origin feed inputs cheaper for US buyers and lowers the USD cost of Canadian canola meal and barley. Expected loonie weakness is a modest bearish signal for Canadian-origin feed prices in USD terms.
theglobeandmail.comScott BarlowDec 19, 2017Not enough comparable past events yet for a historical read.
Not 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.
