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The Biden administration is reportedly moving to escalate a trade dispute with Mexico over GM corn imports. Mexico buys about $5 billion of US GM corn annually, mostly for livestock feed.
Escalation raises the risk of tariffs or restricted access to a major export market for US corn, a bearish risk for corn and feed-grain prices.
reuters.comJarrett RenshawSep 6, 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.
