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U.S. Agriculture Secretary Tom Vilsack said Washington needs to press Mexico over its looming biotech corn ban. The decree would phase out GM corn and glyphosate by 2024.
Corn for human consumption, including white corn for tortillas, makes up 18% to 20% of Mexico's U.S. corn imports.
Pressure on Mexico to keep importing biotech corn supports export demand for U.S. corn, but the unresolved ban adds downside risk to corn prices.
reuters.comTom PolansekSep 27, 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.
