Mexico makes biggest US corn buy in decades as crop shrinks

Reuters, 8/2/2012

Mexico raided the U.S. corn market by making the biggest one-day purchase in over two decades this week, the first clear sign of global anxiety over the decimated U.S. crop.

Mexico, the No 2 importer of U.S. corn after Japan, bought 1.516 million tonnes, the U.S. Agriculture Department said on Thursday, a move traders said could touch off a frenzy of buying by other countries who have been caught flatfooted by the worst U.S. drought in 56 years.

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