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US Expected To Escalate Corn Policy Trade Dispute

MEXICO
  • The US is preparing to accelerate its complaint that Mexico’s ban on genetically modified corn violates the nations’ free-trade deal, heightening tensions between neighbours. While the corn dispute is unlikely to interrupt otherwise robust trade between the countries, it could make it more difficult for the Biden administration to win Mexico’s cooperation on other issues including migration and the trafficking of fentanyl. (BBG)
  • A slightly more volatile morning for USDMXN, briefly rising above 17.20 before then slipping into negative territory following the China fx reports.
  • Pollsters that will participate in the ruling party Morena’s survey process to choose its national coordinator and eventual presidential candidate will be announced today. Former foreign minister Marcelo Ebrard, a leading contender to win the presidency next year, accused his own party leaders of trying to undermine his chances.
    • The bosses of the ruling Morena movement are running a “dark campaign” to favor former Mexico City mayor Claudia Sheinbaum, Ebrard said Wednesday.
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