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Sterling rose above $1.34 for the first time in a year after the Bank of England warned it might raise interest rates for the first time in a decade in the coming months. Only two policymakers voted for an immediate hike, but the currency reversed its initial dip and climbed further after Governor Mark Carney's later remarks, reaching $1.3404.
A stronger pound lowers UK feed importers' cost of dollar-priced grains and meals such as corn, soybean meal and DDGS. Higher UK rate expectations are a macro driver of sterling rather than a direct grain price factor.
reuters.comJemima KellySep 14, 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.
