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US stocks fell across all 11 sectors as rising infections drove traders out of economically sensitive stocks and into government bonds. Benchmark West Texas Intermediate crude fell 5.5% to $37.39 a barrel.
Weaker economic sentiment and lower crude prices reduce energy-linked costs and can weigh on biofuel-related feedstock values. The effect on feed markets is indirect.
nytimes.comMatt PhillipsOct 28, 2020After 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.
