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Mexican grain importers have diversified some purchases to South America, including Brazilian corn, but most deliveries still come from the U.S. Industry groups say the main risk is potential market share loss if the U.S. withdraws from NAFTA and pre-NAFTA tariffs return.
Possible NAFTA withdrawal and snapback tariffs would make U.S. corn, soybeans and rice more expensive for Mexican buyers, a bearish risk for U.S. exports and prices if talks fail.
agri-pulse.comBill TomsonOct 25, 2017After 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 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
