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Corn grower leaders and U.S. officials briefed Congress on January 31, 2023 about Mexico's proposed ban on biotech corn imports. Growers urged the administration to hold firm and enforce USMCA commitments.
Political pressure to hold firm keeps the threat to Mexico's feed corn purchases alive, supporting a bearish outlook for U.S. corn export demand.
ncga.comNational Corn Growers AssociationJan 31, 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.
