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Canada has joined the US in trade dispute hearings against Mexico's proposed ban on GM corn. US farmers are concerned about losing Mexico, which has been buying about $3 billion of US feed corn annually.
A united North American challenge raises the pressure on Mexico to back down, but a ban would still remove a major source of US corn demand. The outcome will affect the export outlook for corn.
apnews.comJun 9, 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.
