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The US chief agricultural negotiator, Doug McKalip, said the US expects the dispute with Mexico over genetically modified corn to be resolved this year. Mexico buys about $5 billion of US GM corn annually, mostly for livestock feed.
Resolution of the USMCA dispute could secure continued Mexican demand for US corn, the top export market, supporting US corn export prices; a ruling against the ban removes a downside risk.
reuters.comLeah DouglasFeb 7, 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.
