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The Dallas Fed reported that Mexico's GDP growth was revised up to an annualized 13.7% in Q4 2020, with the 2021 consensus forecast improving to 3.9%. Exports fell in February, though oil exports rose, and inflation increased while the peso weakened.
Stronger Mexican growth expectations support demand for meat, dairy and feed imports, but the effect on grain prices is modest and this is a general economic update.
dallasfed.orgJesus Cañas, Chloe SmithApr 6, 2021Not 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.
