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USDA Secretary Perdue welcomed the agreement between USTR Lighthizer and Speaker Pelosi on the USMCA trade pact, calling it a win for farmers. He urged Congress to pass it by Christmas.
Canada and Mexico were cited as the first and second largest markets for US food and agricultural exports, totaling $39.7 billion in 2018.
Passage would lock in duty-free access to Mexico and Canada, supporting US feed grain and meal export demand, though final ratification is still pending.
fas.usda.govDec 10, 2019After 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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
