Mexico corn output drops, imports hit record

Mexico's domestic corn output estimates have dropped to 22 million metric tons, from an original estimate of 25.1 million metric tons, forcing the country to increase their estimated imports by 36% to 12.1 million metric tons, according to Hector Salazar, the secretary general of the National Confederation of Farmers. 
Corn futures have already surged by 69% in the last year due to supply concerns, and Mexico's crops were cut by 4.5 million metric tons after frost last winter in the northern region, according to the country's Agriculture Ministry. Mexico usually imports between 8 million and 9 million metric tons of yellow corn per year.