Loading…
A USTR official says the dispute settlement panel challenging Mexico's GMO corn ban is still moving forward, with documentation translation causing delays. He reports no large-scale drop in US corn volumes to Mexico yet, though some importers had delayed or cancelled contracts.
He expects a resolution by late spring.
Contract delays and the uncertain timeline add near-term risk to US corn export demand, but no volume loss has yet shown up in trade flows. Prices are likely to be affected mainly if the ban takes effect as planned.
brownfieldagnews.comCarah HartDec 8, 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.
