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The dollar reached a 9-1/2-month high against the yen after OPEC agreed to its first output cut since 2008. Oil prices rose about 9 percent, lifting inflation expectations and US Treasury yields.
Higher crude prices raise energy and freight costs for feed producers and can lift vegetable oil and biofuel values. A firmer dollar makes US commodities more expensive for overseas buyers.
reuters.comDec 1, 2016Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
