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The USTR requested formal technical consultations with Mexico under the USMCA sanitary and phytosanitary chapter over Mexican measures on agricultural biotechnology. Members of Congress from both parties backed the move.
Formal USMCA consultations are a step toward a trade dispute over Mexico's biotech corn restrictions. That raises the risk to US corn exports to Mexico, the largest outlet for US corn.
ustr.govMar 6, 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.
