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U.S. farm and trade officials raised grave concerns over Mexico's agricultural biotechnology policies in meetings on January 23, 2023. USTR said it will consider all options, including formal USMCA enforcement, if the issue is not resolved.
Possible USMCA enforcement against a ban on biotech corn imports, which covers most U.S. corn sent to Mexico, raises the risk of lost feed corn demand and weaker U.S. corn prices.
reuters.comKanishka SinghJan 23, 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.
Not enough comparable past events yet for a historical read.
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.
