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Brazilian corn vessels continue to move to Veracruz, Mexico, according to the USGC weekly report. The article notes Trump's announcement of 5% tariffs on all Mexican goods, rising to 25% within about two months.
The author suggests Mexico could respond by buying grain from other origins.
Mexico shifting corn purchases to Brazil would cut US export demand, while tariff threats could raise the cost of Mexican imports. This makes Brazilian corn a competitive substitute for US yellow corn in Mexico.
wattagnet.comBenjamín RuizMay 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.
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.
