Loading…
More than 70 members of Congress sent President Biden a bipartisan letter urging him to secure a commitment from Mexico to follow the USMCA biotech provisions. The letter says Mexico has not approved biotech applications since 2018 and that over 90% of US corn, soybean and cotton acres use biotech seed.
Mexico is a large buyer of US corn and soybean products, so a breakdown in biotech trade rules could reduce feed grain export demand. This is a political signal rather than a supply or demand change.
asas.orgDec 27, 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, Soybeans 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.
