We've expressed doubt often that tariffs would even take effect on Canada and Mexico, but also noted if they did, they'd be short-lived. We're about to find out. US Commerce Secretary, Howard Lutnick, has indicated some sort of deal may be announced as early as today
Most heavily traded grain contracts at settlement...
Different day, same graphic. May soybeans back below $10. Some end of day reversal starting is a positive...
May CORN: down 4¾ cents to $4.51½
May SOYBEANS: down 12½ cents to $9.99
May WHEAT: down 11 cents to $5.36¾
4.8 million bushels of wheat to South Korea... "130,000 metric tons of white wheat for delivery to South Korea during the 2024/2025 marketing year"
The rebound from this market overreaction is going to be ripe with opportunity. And one vastly underrated and overlooked aspect of this non-fundamentally based drop is that it's going to spur on purchases of U.S. ag goods that otherwise wouldn't have happened
Most heavily traded grain contracts at settlement...
Down across the board...rinse, repeat. When this tariff freak out is over I expect some corrections...
May CORN: down 13¼ cents to $4.56¼
May SOYBEANS: down 14¼ cents to $10.11½
May WHEAT: down 8 cents to $5.47¾
The weekly export inspection report showed better numbers for wheat and especially for corn which nearly beat all expectations. While down from the previous week, soybean inspections still fell in the middle range of expected totals
4.5 million bushels of corn to our pals directly south...
"Private exporters reported sales of 114,000 metric tons of corn for delivery to Mexico during the 2024/2025 marketing year"
