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Mexican Agriculture Minister Victor Villalobos said the US government considered Mexico's decision to postpone its planned ban on GM corn purchases until 2025 satisfactory. Mexico plans to submit a proposal for discussion in the second half of January 2023.
The decree would phase out GM corn and glyphosate imports by 2024.
Delaying the ban removes near-term risk to US corn export volumes to Mexico, which takes about 17 million tonnes a year. The matter is still unresolved, so the price risk is delayed rather than removed.
ukragroconsult.comDec 23, 2022After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
