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Cyril Ramaphosa won the leadership of South Africa's African National Congress, positioning him to succeed Jacob Zuma as president in 2019. The rand rose to a nine-month high of 12.52 per dollar ahead of the announcement, and government bonds closed firmer.
A market-friendly political outcome strengthened the rand, which lowers the rand cost of dollar-priced imports such as feed ingredients. The effect on feed commodity prices is limited.
reuters.comAlexander Winning, James MachariaDec 19, 2017Not 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.
