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Mexico imported a record 547 million bushels of U.S. corn worth $2.5 billion in the 2016/17 marketing year, according to a U.S. Grains Council year-in-review. The council credited NAFTA trading terms and its long-term market development work in Mexico.
Mexico's record purchases underline the importance of NAFTA terms to U.S. corn demand, which supports prices if the trade framework is preserved. The piece reviews past results, so it adds little new price information.
grains.orgFeb 6, 2018After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
