Loading…
Mexico is set to phase out GM corn for human consumption by early 2024 under a draft decree, which would also phase out GMO corn imports. The Mexican farm council says the restriction disadvantages its farmers, while importing US GM grain is essential for many agrifood products.
Mexico was the largest importer of US-grown corn in the 2018/19 marketing year.
Phasing out GMO corn imports would reduce a major outlet for US corn, weighing on CORN export prices. Mexico's import dependence means the policy's final scope will matter for price direction.
texasfarmbureau.orgJulie TomascikJan 26, 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.
