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The US Grains Council says USMCA implementation is nearly complete, with Congress notified on April 24 and entry into force expected July 1, 2020. Mexico was the top buyer of US corn, barley and DDGS in 2018/19, and the agreement keeps zero tariffs on coarse grains and ethanol.
Preserving zero tariffs and secure access to Mexico and Canada supports US demand for corn, DDGS, barley and sorghum, which is supportive for those prices.
grains.orgrwinkertMay 14, 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.
Not enough comparable past events yet for a historical read.
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.
