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US Agriculture Secretary Sonny Perdue said he and Mexican counterparts want the USMCA trade agreement ratified quickly, and that Mexico appears pleased with the deal. USTR Robert Lighthizer's ongoing negotiations with Democrats on outstanding issues are considered resolvable.
Senate Agriculture Committee chairman Pat Roberts also urged Congress to pass the deal.
Ratification would secure duty-free access for US feed grains and oilseeds to Mexico, a major buyer, which supports US corn and soybean demand. Continued delay raises political risk to that export outlook.
feedstuffs.comJacqui FatkaNov 8, 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.
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.
