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Newly appointed US Commerce Secretary Wilbur Ross said on CNBC that the White House would work with Mexican authorities on a mechanism to stabilize the dollar-peso rate. The peso rose about 2% on the comments, its best daily gain since January.
A US push to stabilize the peso reduces currency risk for Mexican importers of US grain, supporting export demand, and signals a less confrontational trade stance.
ft.comMark Odell, Jude Webber, Mehreen KhanMar 3, 2017Not enough comparable past events yet for a historical read.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
