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USDA estimates Mexico's corn imports rose to a record 18 million tonnes in 2022-23 despite GMO restrictions and temporary 50% tariffs on white corn. USDA projects 18.2 million tonnes for 2023-24, and US white corn exports to Mexico fell about 75% from the prior average.
Record Mexican import demand supports US corn exports, though the USDA's projected increase is a modest bullish signal for corn; the tariff does not apply to US corn under USMCA.
mexicobusiness.newsOct 9, 2023After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
