Loading…
Mexico's central bank raised its benchmark rate by 50 basis points to 5.25 percent, in line with the Reuters poll median. The peso still fell about 1 percent to near 20.39 per dollar, close to the record lows reached after Trump's election.
Higher Mexican rates aim to contain inflation from the weaker peso, but the currency's continued weakness keeps import costs for feed grains elevated. Persistent peso pressure can reduce Mexican purchases of U.S. corn and meal.
cnbc.comEvelyn ChengNov 17, 2016Not enough comparable past events yet for a historical read.
After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), 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.
