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.
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.
Benchmark U.S. corn futures fell nearly three per cent on Monday as worries about trade tensions and ample South American harvests appeared to spur commodity funds to liquidate more of their large net long positions, traders said.
Chicago corn was down sharply on Thursday as market players digested numbers from the U.S. Department of Agriculture's Outlook Forum as well as expectations of new U.S. tariffs on imports from Mexico and China, analysts said.
Chicago corn, soy and wheat eased on Wednesday as traders took profits and monitored the possible impacts of U.S. tariffs on imports from Mexico and Canada, set to take effect on March 4 after a 30-day delay.
U.S. corn futures fell to a three-week low on Tuesday, sliding for a third successive session on tariff tensions and improving weather outlooks for South American crop regions, analysts said.
U.S. corn futures fell 1.6 per cent on Monday, retreating from multi-month highs set last week, pressured by profit-taking and improving weather forecasts for South America, analysts said.
Chicago Board of Trade soybean futures rose on Thursday, recouping losses from the previous session with support from lingering concerns about poor crop weather in South America, analysts said.