# Lower feed demand cuts Mexico's 2020 corn import outlook: GCMA - Fastmarkets

> Grupo Consultor de Mercados Agricolas (GCMA) cut its 2020 Mexico corn import forecast from 17.2 million to 16.75 million tonnes. The consultancy cited weaker-than-expected animal feed demand, which makes up nearly half of Mexico's yellow corn use, as Covid-19 slowed beef and pork production. Imports for January to September were still up 3.6% year on year, with 93% of 2020 imports expected from the US.

- Date: 2020-11-04 · published 2020-11-04T12:00:00.000Z
- Category: trade · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/50124-lower-feed-demand-cuts-mexico-s-2020-corn-import-outlook-gcma-fastmarkets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower import demand from Mexico, the largest buyer of US corn, reduces export outflows and is mildly bearish for US corn prices. The effect is modest because year-to-date imports remain higher than last year.

## Read by commodity

- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-07-16 | [Gro Expects Drop in China Pork Imports and Lower Corn Feed Use](https://feedsoft.ai/events/46076-gro-expects-drop-in-china-pork-imports-and-lower-corn-feed-use.md) | -0.1% | -1.0% |
| CORN | 2023-01-24 | [Mexico, US still far apart over corn import ban \| AP News](https://feedsoft.ai/events/37744-mexico-us-still-far-apart-over-corn-import-ban-ap-news.md) | +1.2% | +1.1% |
| CORN | 2022-10-20 | [Feed weekly outlook: Corn imports pressure grain prices in Lethbridge - Grainews](https://feedsoft.ai/events/39218-feed-weekly-outlook-corn-imports-pressure-grain-prices-in-lethbridge-grainews.md) | -0.2% | -1.1% |
| CORN | 2023-12-01 | [Feed weekly outlook: Corn imports, larger crop prospects pressure barley - Grainews](https://feedsoft.ai/events/32771-feed-weekly-outlook-corn-imports-larger-crop-prospects-pressure-barley-grainews.md) | +2.4% | +3.9% |
| CORN | 2023-07-27 | [Mexico: An Important Trade Destination for U.S. Corn](https://feedsoft.ai/events/35018-mexico-an-important-trade-destination-for-u-s-corn.md) | -13.2% | -14.2% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/lower-feed-demand-cuts-mexico-s-2020-corn-import-outlook-gcma/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.