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Rabobank reports that globally traded agricultural commodity prices have risen about 50 percent since mid-2020, citing La Niña, a weaker US dollar, speculators and strong import demand. The FAO index for January 2021 reached its highest level since 2015.
Sustained weather-driven supply limits and a weaker dollar keep feed grain and protein input costs elevated for buyers, with upward price pressure expected to persist.
abc.net.auClint JasperMar 10, 2021After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% over 20.
After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
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.
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.
