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A visiting Mexican government delegation offered the Biden administration a compromise that would delay the GM corn import ban until January 2025. Mexico also pledged to reconsider rejected GM corn trait petitions and exempt feed corn from restrictions.
GM white corn would be allowed entry but barred from domestic tortilla and food production.
An exemption for feed corn protects the bulk of US corn sales to Mexico, which are used in animal feed. The delay reduces near-term export risk, which is supportive for US corn demand.
agri-pulse.comRita HiteDec 16, 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.
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.
