Loading…
Mexico's peso has lost about 2.7% against the dollar since hitting a five-year high on March 3, as banking turmoil in the US and Europe prompted investors to unwind bets on the currency. The peso is still up about 9% over the past year.
A weaker peso raises the local-currency cost of imported feed ingredients such as corn and soymeal for Mexican buyers. The move is driven by risk sentiment rather than agricultural supply.
bloomberglinea.comMichael O'Boyle, Maya AverbuchMar 26, 2023Not 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.
