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Bank of Mexico said the peso depreciated significantly after the government cancelled the planned New Mexico City airport project. Markets are also worried about the incoming administration's policies and legislative initiatives.
Currency weakness raises the peso cost of imported feed grains and meal, supporting domestic feed costs for Mexican buyers.
centralbanking.comRachael KingNov 20, 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.
