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A group of 70 US lawmakers led by Adrian Smith and Jim Costa asked the Biden administration to get assurances from Mexico that it will honor USMCA biotech provisions. The letter cites Mexico's halt to biotech approvals since 2018 and President López Obrador's plan to phase out biotech corn by 2024.
The dispute threatens future US biotech corn and soybean exports to Mexico, a major buyer, and it creates uncertainty for feed grain demand. No immediate price move follows from a congressional letter alone.
isaaa.orgDec 1, 2021After 439 past neutral policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 554 past neutral policy events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), 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.
