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U.S. Grains Council chairman Chip Councell told a USTR panel that NAFTA modernization should do no harm to U.S. agriculture and move quickly to reduce uncertainty. He said the Council has unconfirmed evidence Mexico will buy South American corn later this year.
Signals of Mexican corn sourcing shifting to South America point to softer U.S. export demand for the coming crop, a bearish factor for corn.
grains.orgmultilingualJun 30, 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.
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.
