Loading…
Mexico's peso fell 2 percent after Fitch revised the country's debt rating outlook to negative, warning of a possible downgrade over concerns about the incoming government's policies. The currency slid to its worst month in two years.
The outlook change came two days after president-elect Andres Manuel Lopez Obrador said he would cancel a partly built Mexico City airport.
A weaker peso and rising sovereign risk raise the dollar cost of Mexican imports, including feed ingredients and corn, while the currency move can shift Mexican buying behavior on US feed commodities. The effect on grain prices is indirect and modest.
afr.comNoe Torres, Miguel Angel Gutierrez, Michael O'BoyleOct 31, 2018Not enough comparable past events yet for a historical read.
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.
