
The dollar index rose to a 1.5-year high while 10-year Treasury yields climbed to 5.156%. Markets priced a 100% chance of a 25 basis point Fed hike at the December 8-9 meeting after hawkish comments from Fed officials and softer-than-expected October PPI.
The euro fell to a 1.5-year low.
A firmer dollar and higher US rates lower the dollar value of imported feed inputs for non-US buyers and tend to weigh on US export competitiveness, which can pressure US grain and oilseed prices.
After 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.