Chicago Board of Trade soybeans ended lower on Monday, as prices were weighed down by weakness in the oil market and traders' concern over Chinese deflation, market analysts said.
Farmers and food organizations across the country are cutting staff, halting investments and missing key funding amid a USDA freeze on a broad swath of grants, more than two dozen farmers and agricultural support groups in seven states told Reuters.
China announced tariffs on over $2.6 billion worth of Canadian agricultural and food products on Saturday, retaliating against levies Ottawa introduced in October and opening a new front in a trade war largely driven by U.S. President Donald Trump's tariff threats.
Chicago Board of Trade corn futures rose for a third straight session on Friday as news of exemptions for Mexico and Canada to most U.S. tariffs allowed grain prices to stabilize after a plunge early this week.
A monthly U.S. Department of Agriculture WASDE supply and demand report due next week will consider trade policies in place when the forecasts for grains and soybeans are issued, an agency official said on Thursday, as President Donald Trump suspended tariffs he imposed this week on Canada and Mexico.
Chicago corn futures surged nearly two per cent on Thursday as trade tensions cooled with Mexico, the top buyer of U.S. corn, after President Donald Trump temporarily suspended steep tariffs that he had imposed on Mexico this week.
U.S. corn, soybean and wheat futures closed higher on Wednesday, bouncing from multi-month lows set a day earlier as indications that U.S. tariffs against Canada and Mexico may be reduced helped ease market jitters over escalating trade tensions.
Tariffs imposed by United States President Donald Trump have wreaked havoc on the Chicago Board of Trade according to Chicago-based agricultural strategist Terry Reilly.
China's new tariffs on U.S. farm goods are poised to reshape global trade flows, prompting the world's top agricultural importer to source more meat, dairy and grains from countries in South America, Europe and the Pacific.
U.S. corn futures fell to their lowest levels of 2025 on Tuesday and soybean futures dropped below $10 a bushel on heightened concerns that President Donald Trump's trade policies would curb demand for U.S. goods, analysts said.