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Mexico's deputy agriculture minister told Reuters the country will not amend its 2024 ban on genetically modified corn and is considering direct deals with farmers in the US, Argentina and Brazil for non-GMO yellow corn. He said Mexico aims to halve its US yellow corn imports, used mainly for livestock feed, by the ban's start.
Halving Mexico's roughly 17 million tonnes of annual US corn imports would remove a major export outlet and add supply pressure on US corn, while Mexican buyers shift to South American non-GMO sources, supporting Brazilian and Argentine corn.
reuters.comCassandra GarrisonOct 27, 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.
