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CANAMI's managing director said Mexico's corn imports will hit a record this year, with imports near 23.5 million tonnes against consumption of 47.5 million tonnes. Self-sufficiency has fallen to about 50%, and drought in Sinaloa has nearly halved output there.
Rising Mexican import needs support demand for US and other exported corn, which is bullish for corn prices.
fastmarkets.comJocelyn GarciaOct 15, 2024After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
