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Mexico's foreign ministry and US officials aim to reach a January agreement on Mexico's planned ban on GM corn and glyphosate, which is due in 2024. US officials have threatened action under the USMCA.
The USDA Economic Research Service noted that Mexico took 27% of US corn exports in 2021/22.
Mexico is the largest destination for US corn exports, so the dispute is a material risk to US corn demand. Market attention on the January deadline may add volatility to US corn futures.
farmpolicynews.illinois.eduKeith GoodDec 18, 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.
