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Mexico is a leading export destination for U.S. corn, but U.S. white corn exports to Mexico through May were 84.5% lower than a year earlier. Overall U.S. corn exports to Mexico were 4.9% lower in the marketing year through May, with white corn accounting for 60% of the drop.
Mexico's shift away from U.S. white corn reduces export demand for U.S. corn, which can pressure corn prices and widen basis as supplies seek other buyers.
ncga.comJul 27, 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.
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.
