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The dollar hit a session high against the Mexican peso after Mexican President Enrique Pena Nieto said he would not attend a scheduled meeting with Donald Trump. The move came as higher global bond yields and stable stock markets supported the greenback.
The collapse of the planned summit raises the risk of trade confrontation between the two largest US feed-grain and meat trading partners, pressuring demand expectations for US exports to Mexico.
cnbc.comReutersJan 26, 2017Not enough comparable past events yet for a historical read.
After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 477 past bearish events of any kind, Lean Hogs moved a median -0.4% over 5 sessions (42% higher; middle half -2.5% 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.
