Mexican Senator Champions Bill to Stop U.S. Corn Shipments

A Mexican senator at a rally on Sunday proposed that Mexico stop buying U.S. corn in retaliation for some of President Donald Trump's stances on our southern neighbors. Mexico is the top market for U.S. corn exports with Mexican buyers importing nearly 28% of all U.S. corn sent to foreign markets in the 2015-16 marketing year. CNN reported Sunday during a rally that Sen. Armando Rios Piter, "who leads a congressional committee on foreign affairs, says he will introduce a bill this week where Mexico will buy corn from Brazil and Argentina instead of the United States." Such saber rattling hasn't affected corn markets yet. Instead, corn has been rallying since the end of January. DTN's National Corn Index has pushed up 15 cents since the end of January to $3.37 a bushel. On the futures markets, the December 2017 corn contract also has moved up 14 cents since the end of January and touched $4 a bushel briefly on Monday before settling at $3.99 a bushel.