Mexico
Shawn Hackett, Hackett Financial Advisors, says the technical selling pressure hit commodity and outside markets and was tied to uncertainty regarding tariffs being placed on Canada and Mexico on March 4 and bearish economic news.
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.
Joe Kooima, Kooima Kooima Varilek, says the grain markets bounced overnight and saw a higher opening but funds used that strength to liquidate or sell more contracts.
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.
Trump said Monday that his planned 25% tariffs on all Mexican and Canadian exports to the U.S. “are going ahead on time, on schedule,” meaning the duties would take effect on March 4 at the conclusion of a one-month suspension.
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.
Kevin Good, Vice President of Industry Relations and Analysis with CattleFax, says the herd is still shrinking and so are slaughter levels and that will mean more record prices in 2025.
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?