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A USDA GAIN report forecasts Mexico's 2022-23 corn, wheat and sorghum output slightly lower, citing input costs, reduced support and La Niña weather. Feed grain demand is expected to grow about 1.5% and the US is expected to remain the main supplier.
Lower domestic output and steady feed demand point to higher import needs, supporting US corn and sorghum exports to Mexico. The effect on prices is modest.
world-grain.comJohn ReidyMar 21, 2022After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
