Loading…
Mexico expects to import a record 300,000 tonnes of Brazilian yellow corn this year after its livestock producers negotiated prices only $3 to $5 per tonne above US corn. This compares with 12.75 million tonnes imported from the US last year.
Cheaper Brazilian corn trims Mexico's demand for US corn at the margin, a bearish signal for US corn exports though the volume is small relative to US sales.
reuters.comMitra TajMay 19, 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.
