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Mexico said it would make a final attempt to resolve the US corn dispute, citing health concerns over GM corn. The article notes that such a trade restriction could violate the USMCA free trade agreement.
Mexico buys about $3 billion of US GM feed corn annually and is the largest single export market for US corn.
Mexico's purchases make it a key outlet for US corn, so a restriction would weigh on US corn export demand and prices. A resolution would reduce that risk.
apnews.comDec 13, 2022After 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.
