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Mexico's economy minister Raquel Buenrostro said Mexico will make no further changes to its GMO corn decree ahead of a USMCA dispute panel requested by the US and Canada. Mexico says its ban on GMO corn for tortillas is science-based, while the US calls it unfounded.
Mexico imports about $5 billion of US corn annually, mostly yellow feed corn.
Mexico's refusal to ease the decree keeps trade uncertainty elevated, but feed-grade GMO corn remains exempt, so the direct price impact on yellow corn is limited for now.
non-gmoreport.comKendra MorrisonOct 2, 2023After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
