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On January 18, 2019, the Mexican government announced a Guaranteed Prices Programme setting support prices for maize, beans, bread wheat, rice and milk. The program runs until December 31, 2019.
Guaranteed prices above market levels could boost Mexican domestic corn output and state purchases, reducing import demand for US corn and wheat and adding to price pressure in those markets.
globaltradealert.orgJan 18, 2019After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
