DTN Closing Grain Comments 02/04 13:54
4 Feb 2025
DTN Closing Grain Comments 02/04 13:54 Grain Markets Firm as Trade War Fears Ease Following a weekend worth of speculation regarding how hard a potential trade war with Mexico, Canada and China would hit U.S. ag commodities, the actual event lasted less than one business day after both Mexico and Canada reached agreements with the U.S. administration to postpone tariffs for at least one month. The 10% tariff on China went into effect Tuesday, and China responded with tariffs of its own set to take effect on Feb. 10, albeit to a much more moderate degree than in 2018-19, mainly targeting energy inputs this time around. The "tariff trade" that had been developing Sunday evening and early Monday was quickly unwound Tuesday, with the U.S. Dollar Index lower and equity markets modestly higher. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed up 5 3/4 cents and May corn was up 5 cents. March soybeans closed up 16 3/4 cents and May soybeans were up 15 1/4 cents. March KC wheat closed up 9 cents, March Chicago wheat was up 10 1/4 cents, March Minneapolis wheat was up 5 1/4 cents.