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Mexican President López Obrador issued a new decree prohibiting GM corn for dough and tortillas and removing the expiry date for its ban on industrial and feed use. The decree also extends the glyphosate prohibition.
Washington had earlier said proposed changes were insufficient.
Removing the feed-use expiry date keeps long-term US feed-corn demand in Mexico uncertain. The move raises the odds of a USMCA trade dispute with the US, which is Mexico's main corn supplier.
bloomberglinea.comZenyazen FloresFeb 14, 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.
