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Mexico is set to enforce its ban on imports of genetically modified U.S. corn starting January 1, 2024. The ban covers white corn for human consumption and extends to exploring substitutes for animal feed.
Mexico plans to source yellow corn mainly from Brazil and Argentina.
White corn is roughly 4-6% of U.S. corn exports, and Mexico is a major buyer, so the ban removes a meaningful export outlet for US corn and pressures US corn prices. Brazilian and Argentine suppliers stand to gain the replacement volume.
ukragroconsult.comDec 21, 2023
chemanalyst.comKim Chul SonDec 20, 2023
ipm.orgClayton BaumgarthDec 19, 2023After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
