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Mexican Senator Armando Rios Piter plans to introduce a bill that would shift Mexico's corn purchases from the US to Brazil and Argentina. The proposal responds to Trump's suggested tariff on Mexican goods to fund a border wall.
Mexico buys about 25% of US corn sales for the marketing year to date.
If enacted, the bill would remove a large share of US export demand, which is bearish for corn. Analysts note that switching suppliers would be logistically difficult, so the impact depends on passage.
agriculture.comMike McGinnisFeb 14, 2017After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
