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Mexico's corn imports are expected to reach 18 million tons in 2020, according to the Agricultural Market Consulting Group. The group cites a 4.5% year-on-year drop in yellow corn production in 2019, with government projections of 26.4 million tons for 2020 against 27.6 million in 2019.
Exports are forecast to fall to 550,000 tons.
Higher Mexican import demand for corn, mainly yellow corn, supports US and global corn export demand and prices. Lower Mexican exports also reduce competition in some markets.
mexicobusiness.newsJan 27, 2020After 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.
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.
