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Andrés Manuel López Obrador and his Morena party won Mexico's July 1 elections with more than 50 percent of the presidential vote and majorities in both houses of Congress. Commentary says farmers hope the win will lead to change in a NAFTA strategy that they feel left them exposed to below-cost imports of maize, wheat and pork.
A new government seeking to revisit NAFTA and support domestic farmers could change Mexico's import demand for US corn, wheat and pork over time. The uncertainty is a modest factor for feed grain prices right now.
foodtank.comTimothy A. WiseJul 6, 2018After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), 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.
