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The rand held near R16.65 to the US dollar on Tuesday, supported by a weaker greenback, firmer precious metals and lower oil prices, while markets waited for Wednesday's municipal elections. Analysts said the currency opened slightly weaker after the US removed South Africa from the African Growth and Opportunity Act, a move markets had largely expected.
A weaker rand raises the local cost of imported feed ingredients priced in dollars, such as soybean meal and corn, while lower oil prices ease import costs for South African feed producers. The currency move is modest, so the price effect on feed buyers is limited.
iol.co.zaNicola MawsonNov 3, 2026Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
