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The Biotechnology Innovation Organization said it is disappointed Mexico plans to proceed with restricting biotech corn imports. It warned that non-biotech supplies from Brazil and Argentina are insufficient to replace US exports and could raise prices for Mexican consumers.
The industry warning reinforces the view that Mexico's ban would be hard to replace with non-GM supply, but it is advocacy rather than a new market event.
bio.orgOct 28, 2022After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
