Reuters’ Karen Braun reported last week that “the United States has been losing corn export business to Brazil as the South American country continues expanding its output, though top customer Mexico has secured a record volume of U.S. corn for shipment this year.”
While the dispute panel at USMCA is still ongoing, commodity leaders, including Neal Caskey with the National Corn Growers Association, believe that it will wrap up sometime later this year, according to reporting from Brownfield Ag News’ Larry Lee.
“‘They expect to have that put to bed sometime maybe this fall, and we expect to prevail,’ Caskey said. ‘We have the treaty on our side, we have the law on our side, and we have science on our side.'”
In addition, Braun reported, “the lack of alternative options for Mexico has kept market participants’ concerns at bay.”
Mexican Economy Minister Raquel Buenrostro said in September 2023, however, that a resolution could be reached as early as March 2024 in the dispute, according to Reuters.
Whatever the timeline for the dispute resolution, “Boydston and Caskey both say they expect the dispute panel to side with the United States sometime this fall,” Lee reported.