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The US filed a sharply worded rebuttal in the USMCA dispute over Mexico's ban on imports of genetically engineered white corn, posted April 30. The US argues Mexico's tortilla corn ban and substitution instruction lack scientific basis and violate USMCA obligations.
The dispute panel is scheduled to issue its final report June 20.
A ruling against Mexico would open the door to restored US corn exports to Mexico, the largest buyer of US corn, supporting US corn demand; continued restrictions risk shifting sourcing and weighing on US corn basis.
agri-pulse.comSteve DaviesMay 8, 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.
