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GCMA forecasts Mexico's 2020 corn imports will rise 14% to 18.3 million mt from an expected 16 million mt in 2019, which would be a record. The outlook is driven by drought in the state of Sinaloa.
Higher Mexican import demand supports US yellow corn export sales and prices, as Mexico is a major buyer of US corn.
gcma.com.mxEditorDec 4, 2019After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
