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Mexico's central bank raised its benchmark interest rate 25 basis points to 8.00%, the highest level since January 2009. The board cited sticky inflation and a sharp peso depreciation amid a weaker external growth outlook and political uncertainty.
Higher Mexican rates raise feed-import financing costs for Mexican feed and livestock buyers, and a weaker peso raises the local-currency cost of imported corn, soymeal and other feed ingredients.
bnamericas.comNov 16, 2018Not enough comparable past events yet for a historical read.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), 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.
