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The U.S. Grains Council welcomed the announced USMCA deal, which concluded talks to replace NAFTA and keeps duty-free access for U.S. grains and livestock to Mexico and Canada. The agreement also adds rapid-response SPS procedures and provisions on agricultural biotechnology.
Preserved duty-free access to Mexico and Canada supports steady U.S. corn, wheat and soymeal export demand, which is supportive for U.S. grain prices.
grains.orgOct 4, 2018After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
