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The USTR announced it is establishing a USMCA dispute settlement panel to challenge Mexico's February 2023 decree banning biotech corn in tortillas and dough and instructing agencies to phase out biotech corn in all human-consumption and animal-feed products. The US says the measures are not science-based and violate Mexico's USMCA market access commitments.
Mexico is the second-largest export market for US corn, so a potential phase-out of biotech corn in animal feed threatens yellow corn demand and could weigh on US corn export prices if the dispute escalates.
ustr.govAug 17, 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.
