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Softer-than-expected US producer price inflation data for October led traders to scale back bets on further Federal Reserve rate hikes. The shift in rate expectations weighed on the dollar and supported gold, which extended its gains.
A weaker dollar lifts dollar-priced commodities and can support feed-ingredient prices, though the effect on feed grains and meals is indirect here.
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.