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Reuters explains the US-Mexico dispute over Mexico's GM corn decree. Mexico's 2020 decree would have banned GM corn in food and phased out glyphosate by January 2024.
After US pressure, Mexico revised the decree in February to drop the deadline for animal feed and industrial corn, which make up most of its US imports.
Mexico takes about 17 million tonnes of US corn a year, mostly for feed. Any move to restrict GM feed corn would threaten a major export outlet and weigh on US corn prices.
reuters.comCassandra GarrisonMar 8, 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.
