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Mexico's president is moving to prioritize domestic corn for tortilla production. Mexico imports about $5 billion of US corn each year, mostly GM yellow corn used for feed and industrial purposes.
The country is also in a trade dispute with the US over GM corn.
A policy shift toward domestic white corn could reduce Mexico's import needs over time, although feed corn demand is less affected. Feed buyers should watch whether the policy expands to yellow corn.
reuters.comCassandra GarrisonJun 19, 2023After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
