
The Mexican peso fell to its weakest level in over a year after the US reportedly considered leaving Nafta and pursuing separate deals with Mexico and Canada. The currency dropped 1.6% to 20.40 per dollar and Mexican CDS spreads widened.
Nafta uncertainty raises the risk to US corn and soymeal exports to Mexico, a major buyer, and a weaker peso makes US feed more expensive for Mexican buyers. This pressures US feed demand and prices.
Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.