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Mexico's high court dismissed challenges from Mexican farm groups to a presidential decree banning GM corn imports over a three-year phase-out. The decree still has to be turned into regulations, and the U.S. has argued the measures violate the USMCA.
Mexico was the largest U.S. feed corn export destination, with imports valued at $2.7 billion in 2019.
A legal end to the challenges makes the phase-out more likely, threatening a large share of U.S. feed corn export demand and adding pressure on corn prices.
hpj.comDavid MurrayJun 19, 2021After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), 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.
