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Mexico has banned GM corn for human consumption and is phasing out its use in livestock feed and industrial uses, prompting the US to invoke the USMCA dispute process. Canada has backed the US position that Mexico's biotech stance is not scientifically based.
Mexico buys large volumes of US corn, so the dispute creates uncertainty over future export demand and possible tariffs, which supports a cautious or bearish outlook for US corn.
aljazeera.comNatalie AlcobaSep 22, 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.
Not enough comparable past events yet for a historical read.
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.
