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Mexico's foreign exchange commission announced Banxico will offer up to $20 billion in FX hedges without using international reserves. The peso jumped 2 percent, briefly breaking 20 per dollar to its strongest level since November 10, 2016.
A stronger peso reduces the local-currency cost of US feed grain imports, supporting Mexican demand, though the policy is a currency measure rather than a direct grain driver.
cnbc.comEvelyn ChengFeb 21, 2017Not enough comparable past events yet for a historical read.
After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), 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.
