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USDA's FAS lowered its forecast for Mexico's 2016-17 corn imports to 14.0 million tonnes after raising its estimate of the domestic crop to 27.4 million tonnes. For 2017-18 it projects a 25.0 million tonne crop and 15.5 million tonnes of imports.
Lower Mexican import needs for the current season trim demand for U.S. corn, though the higher 2017-18 import projection partly offsets this.
grainsprices.comGate.BGJun 23, 2017After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
