Canada
Jim McCormick with AgMarket.Net says the grain markets made new lows for the move on fund liquidation and technical selling pressure tied to trade retaliation by Canada, Mexico and China.
While Canada and Mexico have taken measures to address U.S. concerns, China’s response remains muted, potentially setting the stage for further trade tensions.
President Trump says tariffs on goods from Canada and Mexico will now take effect on April 2, 2025.
The look at corn and soybean acreage under current conditions will be among the key focal points during the event, but it will also be key to see how USDA paints an export outlook with so much uncertainty surrounding tariffs and trade.
Darin Newsom with Barchart says ag markets continue to ride the roller coaster of headlines about tariffs and policy changes being imposed by the Trump Administration. This is driving fund and algorithm trading.
Brad Kooima, Kooima Kooima Varilek, says cattle futures continue to consolidate off recent record highs in routine profit taking mode. Grains extended gains on hopes for a China deal and the pause on tariffs for Canada and Mexico.
Who is next on the Trump administration’s trade radar?
John Heinberg, Total Farm Marketing, says grains opened lower on Monday but recovered shortly after the opening when news broke that the U.S. would delay tariffs on Mexico for 30 days to allow negotiations.
Brad Kooima, Kooima Kooima Varilek, says grain and livestock futures opened mostly lower in response to tariffs imposed on China, Canada and Mexico over the weekend and retaliatory measures from those countries.
Following President Trump’s decision to impose 25% tariffs on Canada and Mexico, Canada announced its own 25% tariffs on $155 billion worth of U.S. imports. Mexico also announced its own retaliatory measures, but no specifics were unveiled as of Sunday morning.