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U.S. farmers are urging Washington to challenge Mexico's planned ban on genetically modified corn, which a 2020 decree would phase out by 2024. Mexico imports about 17 million tonnes of U.S. corn a year and is on track to import more this year.
Farmers want the USTR to start a USMCA dispute settlement proceeding.
A Mexican ban on GM corn imports would remove a large share of U.S. corn export demand, which is bearish for corn prices. Uncertainty over the ban is also weighing on the outlook for Mexican feed grain buying.
reuters.comCassandra GarrisonSep 26, 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.
