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Mexico's Agriculture Secretariat is exploring options to reduce reliance on U.S. farm imports, as NAFTA agriculture ministers met in Georgia. The commentary cites WSJ data showing Mexican buyers shifting to short-term grain purchases and Brazilian chicken.
A diversification push by Mexico's largest feed-grain buyer structurally cuts U.S. corn and soymeal demand, bearish for U.S. feed ingredient prices.
farmpolicynews.illinois.eduKeith GoodJun 21, 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 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.
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.
