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The rand fell to an 11-month low as South Africa's budget woes deepened, with the currency down more than 4.5% since the government raised its deficit forecasts on Wednesday. Worries that the country could lose its remaining investment-grade ratings also pushed the rand lower, and Turkey's lira fell for a sixth day amid an emerging-market selloff.
Currency stress in emerging markets raises import costs for South African and other EM feed buyers and can squeeze local purchasing power for feed grains. The effect on global feed prices is limited unless the selloff spreads widely.
reuters.comOct 27, 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.
