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The USTR presented oral arguments last week before a USMCA dispute settlement panel challenging Mexican restrictions on agricultural biotechnology products. The US says the measures lack scientific basis and threaten US corn exports.
A final panel report is expected by the end of the year.
A ruling in the US's favour could reopen Mexican demand for biotech US corn, but the timing is months away, so the near-term price effect is limited.
ustr.govJul 1, 2024After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
