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The Mexican peso fell more than 2.5% against the dollar on May 31 after President Trump said the U.S. would impose a 5% tariff on all Mexican imports from June 10. The tariff would rise in steps until it reached 25%, and it would stay in place until Mexico curbs illegal migration.
The peso dropped as much as 3.5% intraday, its largest one-day fall since October.
Tariffs on all Mexican imports threaten a market that takes about 80% of Mexico's exports, which could cut U.S. feed and food exports into Mexico and weigh on feed demand. The weaker peso also makes Mexican buyers' dollar-priced purchases more expensive.
cnbc.comMaggie FitzgeraldMay 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.
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.
