December 21, 2023 Grain Commentary
Market Re-Cap 12/21/23
Due to a significant increase in illegal immigration, US Customs and Border Protection has decided to shut down two primary rail entries from the US to Mexico. Each day the crossings are closed, almost 1 million bushels of grain are at risk of not moving. The closing in the South is impacting rail traffic through at least six states currently. With the rail closed, Mexico could threaten to look at other avenues for imports. The loss of Mexico as a buyer could impact the US grain market because, in 2022, Mexico was the second largest buyer of US trading products. In the 2023-24 marketing year, Mexico has been the most prominent supporter of US Corn. See the image below of the closures and rail map from the US Grain Council.
The DeLong Co., Inc.