Loading…
Mexico has booked a record 15.3 million metric tons of U.S. corn for 2023-24 shipment as of January 18, about 20% above the previous high for that date two years ago. Mexico accounts for 47% of total U.S. corn export sales, well ahead of Japan at 14%.
The buying continues despite the GM corn dispute between the two countries.
Record Mexican commitments support U.S. corn export demand and firm the basis, but the unresolved GM import dispute is a downside risk if Mexico enforces restrictions more broadly.
reuters.comKaren BraunJan 26, 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.
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.
