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A Mexican senator said he would introduce a bill to shift Mexican corn purchases from the US to Brazil or Argentina, in response to President Trump's threats. Analysts note that Mexico cannot unilaterally block US corn under NAFTA.
South Dakota growers warned that a ban would lower national corn prices.
A possible shift away from Mexico, the largest buyer of US corn, would weigh on US corn export demand and prices if it becomes concrete policy.
farmpolicynews.illinois.eduKeith GoodFeb 19, 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.
