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Mexico's incoming government, led by President-elect Claudia Sheinbaum, will drop the outgoing administration's goal of cutting yellow corn imports and achieving self-sufficiency, according to incoming agriculture minister Julio Berdegue. He said Mexico will focus on white corn self-sufficiency and will likely keep importing large volumes of yellow corn, mostly from the US.
Mexico remains the largest buyer of US corn, so dropping the import-reduction goal supports continued US corn export demand and underpins feed grain prices.
reuters.comAdriana BarreraJul 1, 2024After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
