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The rupiah slid to a 10-month low against the dollar on September 28, reaching Rp13,594 per dollar intraday. Bank Indonesia's earlier rate cut to 4.25 percent and Fed rate expectations were cited as pressures.
Weaker rupiah makes dollar-denominated feed imports more costly for Indonesia, supporting higher delivered prices for soymeal and corn.
theinsiderstories.comDesk Editor InsiderSep 29, 2017Not enough comparable past events yet for a historical read.
After 44 past bullish macro events, Soybean Meal moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% over 20.
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.
