Loading…
The Mexican peso lost as much as 3.62% on May 31 after President Trump threatened tariffs on goods exported from Mexico to the U.S. The drop erased all of the peso's 2019 gains. It was the sharpest fall since President Lopez Obrador canceled a $13 billion airport project in October.
Tariffs on Mexico would disrupt a major export market for the U.S. and Brazil alike, weighing on Mexican feed and food demand. The currency move raises the cost of dollar-priced grain imports for Mexican feed mills.
reuters.comNoe TorresMay 31, 2019Not enough comparable past events yet for a historical read.
After 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.
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.
