Wheat

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.

Bryan Doherty with Total Farm Marketing says most markets had a negative reaction to to the 25% tariffs on Mexican and Canada starting this weekend and possible retaliation.

Randy Martinson, Martinson Ag, says grain and hog markets opened lower reacting to President Trump announcing Thursday afternoon the U.S. would be moving ahead with 25% tariffs on Mexico and Canada on Feb. 1.

Kent Beadle, Paradigm Futures, says grains rallied with corn making new highs for the move but wheat also saw double digit gains.

At the height of the recent cold wave in January, subzero temperatures were noted across the Great Plains and as far south as the northern Panhandle of Texas. According to USDA Meteorologist Brad Rippey, temperatures dipped to -20°F and below across the Northern Plains.

Chip Nellinger, Blue-Reef AgriMarketing says grains rally with corn pulling up the rest of the complex on South American weather concerns.

Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.

DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.

Mike Zuzulo, Global Commodity Analytics, says grains further corrected with funds liquidating in corn, soybeans and meal due to rains over the weekend in Argentina and more in the extended forecast.

Cattle hit record highs again and hogs follow, says Brad Kooima of Kooima Kooima Varilek. Grains break on South America weather and tariff concerns.