Following the Democratic midterm election victory, the US dollar and Treasury yields fell on Wednesday. The 10-year yield dropped to about 4.896%, and the 2-year yield fell to about 4.594%, as oil prices also tumbled.
Lower yields and a weaker dollar generally support dollar-denominated commodity prices, while the oil decline eases energy and freight costs for feed supply chains. The effect on feed grain prices is indirect and likely modest.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 565 past bearish macro events, Crude Oil (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.