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The US Grains Council said it remains committed to its partnership with Mexico, the largest global market for US grains, following López Obrador's July 1 election. Mexico was the top buyer of US corn and DDGS in 2016/17 and remained the top US corn market in 2017/18 despite the change.
Mexico's continued status as the top corn buyer supports US export demand for corn and DDGS, but the NAFTA renegotiation adds uncertainty. This is trade-association messaging rather than a new market event.
hpj.comHPJ StaffJul 13, 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.
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.
