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Mexican buyers imported more than 583,000 metric tonnes of Brazilian corn in 2017, a 970 percent jump over 2016, according to Mexican government data. U.S. corn exports to Mexico also rose 6.6 percent in 2017, to about 14.7 million tonnes, as Mexico needed record imports to offset a drought-hit domestic crop.
Brazilian corn is taking a growing share of Mexico's import needs, which may cap U.S. corn export gains if NAFTA tensions persist. Total Mexican demand remains strong, so the net price effect is modest.
reuters.comP.J. HuffstutterFeb 22, 2018After 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
