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NYMEX WTI settled down 11 cents at $78.39 per barrel and ICE Brent finished little changed at $82.25 on November 24, 2021. Crude was pressured by an unexpected rise in US commercial inventories and a rally in the US Dollar Index to a 17-month high of 96.872.
A stronger dollar makes dollar-priced commodities like grains and meals more expensive for foreign buyers, and crude softness lowers energy and input costs, so the combined effect is mildly bearish for feed commodities.
dtnpf.comLiubov GeorgesNov 24, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
