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The dollar fell against the yen and Swiss franc on September 4 after North Korea's sixth nuclear test. Investors rushed into traditional hedges but saw a low chance of full-scale conflict.
Commerzbank said markets were unlikely to react much unless the situation escalated.
Brief safe-haven flows into the yen and franc have limited direct effect on grain and oilseed prices. Escalation to conflict would be a larger risk for energy and freight markets than for feed.
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.