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The US has asked for consultations with Mexico over new Mexican rules that drop the date for substituting imports of genetically modified feed corn. The rules keep a vague commitment to 'gradual substitution' with no timeline and ban GM corn for direct human consumption.
Mexico buys about $3 billion of US corn a year.
Mexico is the largest buyer of US corn, and open-ended restrictions raise the risk of lost export demand, which is bearish for US corn prices.
markets.bostonherald.comAssociated PressMar 6, 2019After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
