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Mexico's national farm council CNA head Bosco de la Vega said Mexico should target farm goods from Republican-voting US states if the trade dispute escalates. He said such retaliation would be a last resort after negotiations.
Mexico is drawing up a list of potential US targets.
Retaliatory tariffs aimed at US farm goods in Republican states would reduce US agricultural export demand and pressure grain and feed prices. The threat raises trade-war risk for corn, soybean and co-product markets.
farmtario.comDavid Alire Garcia, Sharay AnguloMay 31, 2019After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 53 past bearish geopolitics events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -1.9% to +1.2%), and +1.0% 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.
