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The dollar hit an 8.5-month high against the yen and rose against the euro and Swiss franc on Wednesday. Crude rallied more than 8.5% after major oil producers agreed to cut output for the first time since 2008.
Strong private payrolls data also lifted expectations of a more hawkish Federal Reserve.
A stronger dollar makes US grain, meal and oilseed exports pricier for importers, which can weigh on US feed commodity prices. The OPEC-driven oil rally feeds into energy costs and biofuel economics that influence vegetable oil demand.
cnbc.comReutersNov 30, 2016After 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.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
