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USDA Secretary Tom Vilsack met Mexican President López Obrador and said the U.S. raised concerns about Mexico's 2020 decree to phase out biotech corn and other biotech products by January 2024. He warned that without an acceptable resolution the U.S. would consider all options, including formal USMCA enforcement steps.
A full ban would cut Mexico's imports of U.S. yellow feed corn, the largest outlet for U.S. corn exports, and raise uncertainty for feed buyers and corn prices. The threat of USMCA action raises the chance of a trade dispute that could disrupt flows further.
usda.govNov 29, 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.
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.
