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Mexico's peso closed 2024 at 20.82 per US dollar after weakening nearly 23% over the year, its steepest annual drop since the 2008 financial crisis. The slide began after June's general election, which gave the leftist Morena-led coalition a large victory.
A weaker peso raises the peso cost of US grain and meal imports, which squeezes Mexican feed-mill margins and can cut buying at the margin. Feed buyers should watch the peso as a factor in Mexican import demand for corn and soymeal.
reuters.comDec 31, 2024Not 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.
