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US Agriculture Secretary Sonny Perdue welcomed Senate passage of the USMCA by a vote of 89 to 10 on January 16, 2020. The trade pact now goes to President Trump for signature.
Perdue said Canada and Mexico are the first and second largest export markets for US food and agricultural products.
Passage removes uncertainty over NAFTA successor terms and supports continued access to Mexico and Canada for US farm exports. The immediate price impact is modest because the deal largely preserves existing tariff-free trade.
usda.govJan 16, 2020After 1,623 past policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
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.
