:max_bytes(150000):strip_icc()/jerry-rotaryclub-8e114f0f815c4689b39edb6d0d9469e0.jpg "Spinning for the Rotary Club")
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At the close, May corn was down 13¼¢ at $4.56¼ per bushel.
May soybeans closed down 14¼¢ at $10.11½ per bushel.
May wheat contracts were also lower. CBOT wheat closed down 8¢ at $5.47¾ per bushel. KC wheat was down 11¢ at $5.62. Minneapolis wheat was down 6½¢ at $5.91¼.
“News President Trump is moving forward with tariffs on Mexico and Canada at 25% and China will see another 10% starting tomorrow weighed heavily on today’s session as they threaten trade with our largest partners,” said Karl Setzer, partner at Consus Ag Consulting. “China has already stated it will place retaliatory tariffs on the U.S.”
April live cattle closed down 40¢ at $192.25 per hundredweight (cwt). April feeder cattle were down 95¢ at $272.05 per cwt. April lean hogs closed up 3¢ at $83.70 per cwt.
Ahead of 2:30 p.m. CT, April crude oil was down $1.54 at $68.22 per barrel.
March S&P 500 futures were down 112 points. March Dow futures were down 713 points.
Published: 2:37 p.m. CT
Corn and Soy in the Red: 9:31 a.m. CT
Ahead of 9 a.m. CT, May corn was down 2½¢ at $4.67 per bushel.
May soybeans were down 6¾¢ at $10.19 per bushel.
May wheat contracts were higher. CBOT wheat was up 2¢ at $5.57¾ per bushel. KC wheat was up 1¾¢ at $5.74¾. Minneapolis wheat was up 2¢ at $5.99¾.
“Corn and soybean futures slipped a bit further in early trade amid continued worries about the impact U.S. tariffs set to take effect on Tuesday will have on agricultural exports, with losses limited by a weaker dollar,” said The Brock Report this morning about the overnight session. “Wheat futures managed modest gains on support from the weaker dollar, dry conditions in the U.S. hard red winter wheat belt, and dwindling Russian exports.”
Earlier this morning USDA announced Mexico is buying 114,000 metric tons of corn for the 2024/2025 marketing year.
April livestock were mixed ahead of 9 a.m. CT. Live cattle were up 23¢ at $192.88 per hundredweight (cwt). Feeder cattle were down 88¢ at $272.13 per cwt. Lean hogs were up 73¢ at $84.40 per cwt.
April crude oil was up 12¢ at $69.88 per barrel.
The U.S. Dollar Index March contract was down to 106.62 less than a quarter before 9 a.m. CT.
March S&P 500 futures were up 9 points. March Dow futures were up 129 points.
Published: 9:31 a.m. CT
:max_bytes(150000):strip_icc()/7020578JJGouin-1398010459_Getty-c2c22ce272c34612bb35c550a0925cbf.jpg "Over 5,600 Acres of Minnesota Farmland Will Be up for Auction in March 2025")
