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Mexico's Ministry of Agriculture forecasts 2021 corn production of about 28 million tons, up 2.6%, including yellow and white corn. The government aims to replace 16 million tons of U.S. yellow corn imports with domestic product by 2024.
Higher domestic Mexican output and the goal of replacing U.S. yellow corn imports would reduce Mexico's import demand, a mildly bearish factor for U.S. corn exports.
mexicobusiness.newsMay 18, 2021After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
