
Farm groups including the U.S. Grains Council testified at a USTR hearing in Washington on the future of NAFTA, urging that any changes 'do no harm' to grain trade. Fruit and vegetable growers complained of cheap Mexican imports, while the cattle industry remained divided over country-of-origin labeling.
Uncertainty over NAFTA threatens U.S. corn and feed exports to Mexico, the largest market for these products, which can weigh on U.S. corn and meal demand and basis.
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, Soybean Meal 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.