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US grain groups and the Nebraska governor pressed for NAFTA modernization rather than renegotiation, while meeting a Mexican trade delegation that represents about 80% of Mexico's grain demand. The Mexican delegate warned that taxing US grain would make it unattractive and said Mexico is considering Brazil.
Mexico's stated willingness to shift to Brazilian grain if US supply is taxed signals downside risk to US corn and soybean export demand unless the trade deal is stabilized.
world-grain.comHolly Demaree-SaddlerMay 17, 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.
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.
