We are offering Free DP for Corn and Soybeans.  Off farm bushels only at this time

  

April 3, 2025

 

Corn futures have traded a few cents higher today after opening lower in early trade.  Closed down 1

 

Corn found renewed buying interest as duties against especially Mexico, but also Canada were left unchanged.

 

As for our other major buyers of US corn, Japan's tax rate jumps to 24%, Columbia 10%, S Korea 26%, Taiwan 32% and Spain 20%.

 

As for our largest bean buyer, China's total tariff penalty has reached 54%, leading all other nations. Vietnam comes in a close 2nd for tariffs, at 46% and Taiwan is in 3rd place.

 

Soybean futures traded down 18 cents, but 6c off early session lows. Bean products mixed with meal $1.50 higher and oil 1.60 lower.

 

Bean oil giving up a portion of recent gains as expected duties on Canadian Canola oil weren't implemented.

 

Weekly export sales were within trade estimates for corn and beans, while wheat was above estimates.

 

Weekly corn export sales of 46.2 MB brings YTD to 2.135 BB.

 

Weekly bean sales were 15.1 MB, bringing YTD totals to 1.696 BB.

 

Wheat sales of 12.5 MB were above the top end of estimates. YTD wheat sales total 780 MB.

 

Equity markets are getting hammered as markets react to the sweeping tariffs. The Nasdaq is leading the losses, down 4%.

 

The US dollar index is down 2%, dropping to a 6-month low and experiencing its worst loss in 2 years.

 

10-year Treasury yields hit the lowest level since October. 30-year mortgage rates dipped to around 6.4%.

 

Energy markets have collapsed with crude oil down a whopping $5.63 (7.9%) after gapping lower on the open.

 

French President Macron is urging EU countries to reduce reliance on the US and the pause in US investments.

 

China's credit rating was dropped slightly by Fitch, reflecting concerns of rising debt to GDP.

 

The Challenger Group posted 275,240 job cuts in March which was up 60% from the previous month.

 

Of all the job cuts in March, DOGE actions on federal employment accounted for 216,670 cuts, or 79% of the total.

 

CNH Industrial halted shipments of farm equipment from North American plants, as well as European imports, effective today.

 

Delivery Start	Delivery End	Cash Price	Basis	Futures Price	Futures Change
CORN
SOYBEANS

Delivery Start	Delivery End	Cash Price	Basis	Futures Price	Futures Change
CORN
SOYBEANS
WHEAT

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