Mexico is mulling over writing new trade agreements that offer Brazil and Argentina duty-free access to the Mexican market for corn.
The potential move by Mexico, the world’s biggest buyer of U.S. corn, to open access for Brazil and Argentina is seen as a shot at American imports.
An eagerness to renegotiate the North American Free Trade Agreement (NAFTA) by President Donald Trump has corn buyers in Mexico concerned and exploring other options.
Currently, Mexico imports 98 percent of its corn from the U.S. and total U.S. farm sales to Mexico were worth an estimated $17.7 billion last year.
