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The dollar rallied strongly this week as short-dated US yields rose about 40bp after Fed Governor Waller floated a 50bp hike in December. Markets now price back-to-back December and January hikes, with a total of about 85bp of tightening.
A stronger dollar and higher US rates tighten financial conditions for dollar-priced commodities and make imports costlier for emerging-market feed buyers, which can pressure grain and oilseed prices.
think.ing.comChris Turner, Frantisek Taborsky, Francesco PesoleNov 13, 2026After 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.
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.
