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Mexican presidential candidate Andrés Manuel López Obrador endorsed a farmers' proposal, the Plan de Ayala Siglo XXI, to regenerate rural Mexico on April 10 before a crowd of about 5,000. He leads the July 1 election by roughly 20 points and has pledged to produce in Mexico what Mexicans eat rather than buy it overseas.
The program is a challenge to existing trade and agricultural policy in Mexico and the US.
A likely future Mexican government favoring food self-sufficiency and reopening NAFTA terms could reduce Mexican imports of US corn, soybean meal and other feed ingredients over time. That adds downside risk to US export demand, though the outcome depends on the election and renegotiation.
foodtank.comTimothy A. WiseApr 30, 2018After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), 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.
