◂ Event Timeline

Apr 12, 2023TRADEMexico

USTR faces option of dispute with Mexico over GM white corn

U.S. lawmakers and farm groups are pressing the Biden administration to start a formal dispute process over Mexico's GM white corn restrictions. The USTR has not yet said whether it will extend consultations or request formal dispute consultations, after the 30-day window ended April 7.

WHY IT MATTERS

A possible formal dispute could prolong uncertainty over Mexican corn demand, which is mildly bearish for corn prices.

AFFECTSCORN▼

SOURCE
agri-pulse.comBill TomsonApr 12, 2023

Price reaction & history

CORN▼bearishSO FAR1d +0.5%5d +0.7%20d -0.9%

After 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.

Apr 5, 2023Mexico makes its case against GM white corn | Agri-Pulse Communications, Inc.-0.1%
Nov 29, 2023US files missive against Mexico’s GE corn ban before dispute panel | Agri-Pulse Communications, Inc.+3.8%
May 10, 2023US strategizes while Mexico erects defenses on potential GM corn case | Agri-Pulse Communications, Inc.-7.0%
Jan 19, 2023Taylor: US tells Mexico biotech corn restrictions won’t stand | Agri-Pulse Communications, Inc.-1.6%
May 17, 2023Mexican argument that corn ban does no harm meets opposition | Agri-Pulse Communications, Inc.+2.4%

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.

CORN · GP ▸

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