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Mexico's agriculture minister Victor Villalobos said on October 20 that Mexico's domestic ban on growing biotech corn will not restrict its imports of U.S. corn. He made the remarks during a farm tour in Iowa with U.S. Agriculture Secretary Tom Vilsack.
Mexico still relies heavily on U.S. yellow corn for agro-industry and feed.
Assurance that Mexico keeps importing GM corn supports demand for U.S. corn, the largest export market for the crop. The reassurance eases fears of a lost market, which limits downside pressure on prices.
dtnpf.comOct 20, 2021After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
