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Mexico's Senate approved a trade deal with the US and Canada. The peso strengthened to 19.03 per dollar on Wednesday, mainly on the Federal Reserve signaling readiness to cut rates.
Ratification of the trade pact supports continued US farm exports to Mexico, a key feed grain buyer, while the Fed signal weakens the dollar, which tends to support dollar-denominated grain prices.
apnews.comCHRISTOPHER SHERMANJun 19, 2019Not enough comparable past events yet for a historical read.
After 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 39 past bearish trade events, US Dollar (Broad) moved a median -0.4% over 5 sessions (26% higher; middle half -1.1% to +0.0%), and -0.8% 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.
