◂ Event Timeline

Oct 29, 2020TRADEMexico

Mexico inks record U.S. corn purchase after Mexican farmers warn of crop shortfall

Mexico booked a record purchase of 1.433 million tonnes of U.S. corn. The buying followed warnings from Mexico's most productive farmers that domestic supplies may fall short of demand after government spending cuts.

WHY IT MATTERS

A large, record purchase from the largest U.S. corn export market supports U.S. corn export demand and prices. Tighter Mexican domestic supply should keep import needs high.

AFFECTSCORN▲

SOURCE
reuters.comMark WeinraubOct 29, 2020

Price reaction & history

CORN▲bullishSO FAR1d -0.5%5d -0.2%20d +8.5%

After 729 past bullish trade events, CORN moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.

Jul 14, 2020China Makes Record U.S. Corn Purchase | Farm Policy News | Illinois-1.1%
Jul 14, 2020China books record U.S. corn purchase, also buys soybeans | Reuters-1.1%
Nov 29, 2022Mexico open to deal with U.S. on GMO corn as farmers demand clarity over ban | Reuters-3.8%
Apr 6, 2026Mexico Imports Record Amount of Corn From US - Mexico Solidarity Media-1.8%
Jul 10, 2020China books second-biggest U.S. corn purchase on record, also buys wheat-4.9%

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.

CORN · GP ▸

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