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Mexican lawmakers are seeking to pass a Federal Law for the Promotion and Protection of Native Corn that would legally recognize native corn cultivation as part of the country's food heritage. The bill has passed the Senate and Chamber of Deputies, but its next step, approval by the Commission of Agriculture, is stalled.
The draft would support smallholder producers, who receive low prices, while Mexico imports about one-third of its corn.
Support for native corn growers is unlikely to change Mexico's import dependence in the near term, so the direct effect on US corn export demand is limited. The law could shift domestic Mexican corn production over time if it passes.
foodnavigator.comNiamh MichailNov 27, 2019After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
