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US President Donald Trump threatened on November 12 to double tariffs on Mexican products immediately unless Mexico stops migrant caravans, which he said were heading to the border. No formal proclamation or trade notice had been issued by November 13.
Mexican President Claudia Sheinbaum responded that no migrant caravan had reached the northern border.
Higher tariffs on Mexico, the largest buyer of US goods, could cut US agricultural exports and weigh on corn and soybean demand. Because the threat has no legal form yet, its market impact is uncertain.
mayacomunicacion.com.mxJuan Pablo OjedaNov 13, 2026After 685 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
