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President Trump said the US and Mexico resolved key obstacles to a renegotiated NAFTA, to be called the U.S.-Mexico Trade Agreement, and that Canada may be left out. The deal keeps zero tariffs on farm goods between the two countries.
Preserving duty-free access to Mexico protects US grain, oilseed and meal export demand, which is supportive for feed prices, while Canada's exclusion adds trade uncertainty.
agweek.comSara WyantSep 2, 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 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
Not 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.
