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U.S. Grains Council CEO Ryan LeGrand said the USMCA trade agreement, in effect since 2020, has challenges, mainly Mexico's decrees to ban glyphosate and GMO corn for human food. He said Mexico imports about 40% of its grain needs and cannot easily source non-GMO supplies.
Mexico's planned GMO corn ban could cut demand for U.S. corn and raise Mexico's reliance on other origins, a bearish risk for U.S. corn exports and a possible support for non-GMO supply premiums.
kmaland.comNAFBAug 7, 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.
