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Mexican stocks fell over 6% on June 3 and the peso closed at its weakest against the dollar since November after the ruling party's strong election result raised expectations of a congressional super-majority. Markets fear this could bring constitutional change and weaker checks and balances.
A weaker peso raises the local cost of imported feed ingredients and makes Mexican buyers of US corn and soymeal less price-competitive, which can weigh on US export demand.
reuters.comKarin StroheckerJun 3, 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.
