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A CRS report reviews the USMCA dispute in which the US challenges Mexico's February 2023 decree restricting genetically engineered corn in dough and tortillas and calling for eventual substitution of GE corn for feed and industrial use. Mexico exported … the US shipped about 18.6 million metric tons of corn worth over $5 billion to Mexico in 2023, mostly GE yellow corn for livestock feed.
Mexico is the largest buyer of US corn, so a ruling forcing removal of restrictions would support US corn export demand, while a loss would threaten feed corn flows and weigh on corn prices.
everycrsreport.comJun 5, 2024After 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
