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The USMCA trade agreement entered into force on July 1, 2020, replacing NAFTA. The Illinois Corn Growers Association welcomed it, noting zero tariffs remain on U.S. feed grains, co-products and ethanol.
Mexico is the top buyer of U.S. corn and DDGS.
Preserved zero tariffs and enforceable standards on feed grains and DDGS support steady U.S. export demand to Mexico, which is supportive for corn and DDGS prices.
ilcorn.orgTara DesmondJun 30, 2020After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
