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Japan has overtaken Mexico as the top buyer of U.S. corn in 2017, with Japanese purchases reaching $1.19 billion, according to USDA data cited by Bloomberg. Sales to Mexico fell 7% to $1.04 billion through May as Mexico lines up alternative suppliers amid NAFTA renegotiation tensions.
Shifting export destinations and Mexico's search for South American corn suggest weaker demand from a key market, a mildly bearish factor for U.S. corn unless Japanese buying offsets it.
agriculture.comChuck AbbottJul 7, 2017After 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.
