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US Agriculture Secretary Tom Vilsack warned Mexico's president that the US would be forced to take legal action if no acceptable resolution was found on the GM corn ban. Mexico's president said the same day he would seek a deal with the US.
The planned ban would take effect in January 2024.
The combination of a legal threat and a signal of negotiations keeps the outcome for U.S. yellow corn exports to Mexico uncertain. A deal would support corn demand, while a dispute would cut into an important export outlet.
bbc.comVanessa BuschschlüterNov 29, 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.
