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Mexico's agriculture minister said drought will push the country to import 14 to 16 million tonnes of yellow corn in 2024. Mexican production forecasts were cut, and the southeast is expected to partly offset losses in Chihuahua.
Higher Mexican import needs support demand for US yellow corn and feed grains, a bullish factor for corn and DDGS prices.
world-grain.comJohn ReidyFeb 15, 2024After 1,465 past bullish weather events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
