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The US filed its first written submission to the USMCA dispute panel on Mexico's ban on genetically engineered corn, dated November 17. The US argues Mexico reversed decades of permitted GE corn imports without new science or risk assessment.
The National Corn Growers Association backed the submission.
Mexico is the top US corn export market, so the dispute over its GE corn restrictions is a direct risk to US corn export demand. Progress toward a panel ruling could firm or weigh on US corn prices depending on the outcome.
agri-pulse.comBill TomsonNov 29, 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.
