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Mexico's undersecretary for agriculture, Víctor Suárez Carrera, said Mexico will pursue three strategies to reduce imports of GM yellow corn from the US. These include boosting non-GM yellow corn output, promoting crops like cassava and fodder beets as animal feed substitutes, and encouraging buyers to contract non-GM US corn.
If Mexico successfully substitutes domestic feed crops and shifts buyers to non-GM supply, US yellow corn demand from its largest market could shrink over time, a bearish factor for corn prices.
politico.comAri HawkinsOct 2, 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.
