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The Texas Corn Producers Association criticized President Trump's announced tariffs on all Mexican imports, set to begin June 10. The group noted Mexico took $3.3 billion in U.S. corn and corn product exports in 2017/2018, with a record 618 million bushels of corn exports.
Mexico was also the largest importer of U.S. DDGS that year.
Tariffs on Mexico threaten the largest US corn export market and DDGS demand, which would pressure cash corn and feed co-product prices. Mexico could retaliate against US farm goods, adding further downside risk.
texascorn.orgMay 31, 2019After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
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.
