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Mexico says it will proceed with plans to replace about 16 million tonnes of yellow corn imports, mostly genetically modified and mostly from U.S. farmers, with domestic production by 2024. Those imports make up more than a third of Mexico's corn demand and mainly feed its livestock industry.
Sustained government commitment to cut GM corn imports threatens a major U.S. feed-corn outlet, which is bearish for U.S. corn prices and export basis.
reuters.comDavid Alire GarciaFeb 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.
