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Mexico's health regulator Cofepris has, for the first time, denied import permits for corn genetically modified to resist glyphosate, including Bayer's HT3 and SmartStax PRO stacks. The industry council president said importers will feel the impact next year.
The decision was not made public when it was taken.
Denied import permits for GM corn stacks can cut into U.S. corn exports to Mexico, the largest buyer. That reduces demand and is bearish for corn prices.
hpj.comDavid MurrayOct 13, 2021After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
