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US and Mexican delegations met under the USMCA dispute settlement process over Mexico's restrictions on biotech white corn. The US requested consultations on June 2 after technical talks failed.
The article also notes USDA projects lower fertilizer and chemical costs next year.
Progress in the dispute lowers the risk of losing Mexican demand for U.S. corn, which is modestly supportive for corn prices.
agri-pulse.comPhilip Brasher, Steve Davies, Jacqui Fatka, Bill TomsonJul 14, 2023After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
