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Mexico's president has issued a decree phasing out GM corn for human consumption and banning glyphosate, aimed at food self-sufficiency. The article says the US supplies about 96% of Mexico's corn imports, so replacing them would require a large increase in Mexican domestic output.
A sustained shift away from US corn imports would remove a major export outlet and put downward pressure on 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.
