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The US Grains Council said Mexico, the top buyer of US corn, is considering duty-free access for corn from Brazil and Argentina. Council officials said South American corn is already competitively priced and that tariff removal would likely reduce demand for US grain.
Mexican officials are reportedly upset over Trump administration trade and immigration policies.
If Mexico shifts feed-grain purchases to Brazil and Argentina, US corn export demand would fall, pressuring US corn prices, while South American corn gains share.
brownfieldagnews.comMark DorenkampMar 27, 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.
