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Mexican buyers pulled back from US grain imports after the peso fell to an all-time low against the dollar following Donald Trump's election win. USDA data showed corn sales to Mexico dropped to 164,468 tonnes in the week ended November 10, down from 709,261 tonnes the week before.
Mexico is the largest US corn buyer, so a sharp fall in its demand weighs on US corn export prices. The weaker peso raises import costs and could reduce Mexican feed demand.
agcanada.comAGCanadaNov 18, 2016After 683 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.
Not enough comparable past events yet for a historical read.
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.
