Despite the concern for planting delays, corn is following many other commodities that are also priced in US Dollar, and the greenback gains strength one day following the Fed's decision. The financial markets have interpreted the Fed's statement yesterday as suggesting a pause, and the Dollar is much stronger today as a result. Even bullish planting delays for corn can't push prices higher. This seems to underscore the influence of the currency, despite statements by the Chairman Bernanke to the contrary.Thursday, May 1, 2008
Stronger Dollar Overrides Corn Concern
Despite the concern for planting delays, corn is following many other commodities that are also priced in US Dollar, and the greenback gains strength one day following the Fed's decision. The financial markets have interpreted the Fed's statement yesterday as suggesting a pause, and the Dollar is much stronger today as a result. Even bullish planting delays for corn can't push prices higher. This seems to underscore the influence of the currency, despite statements by the Chairman Bernanke to the contrary.
