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A USDA Foreign Agricultural Service report says Mexico has not approved new genetically modified seed traits in over a year and a half and remains one of the world's largest importers of GE corn and soy. The report says Mexico's stance, including its refusal to allow glyphosate imports, is hurting farmers, and GE cotton area fell 36% in 2020.
Growing regulatory uncertainty in Mexico, a major importer of US corn and soybeans, adds downside risk to export demand for CORN and SOY. The report highlights that the restrictions are already affecting farm planting decisions.
agri-pulse.comBill TomsonJan 6, 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.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
