Corn Down Nearly 6¢. Monday, Feb. 3, 2025
Shortly after the market opened at 8:30 a.m. CT, March corn was down 5½¢.
March soybeans were down less than a penny.
March wheat contracts were mixed. CBOT wheat was down 2¾¢. KC wheat was down 4¾¢. Minneapolis wheat was up 1¾¢.
“Markets are mostly weaker on the potential impact of U.S. tariffs on Canada, China, and Mexico,” said Ryan Kelbrants, commodity broker with CHS Hedging, this morning during the overnight session.
“New 25% duties will apply to all imports from Mexico and Canada, with Canadian energy exports facing a reduced 10% duty rate, according to a White House fact sheet first published by Punchbowl News. A separate 10% duty, on top of any pre-existing tariffs, will apply to Chinese products.”
April live cattle were down $1.33 shortly past 8:30 a.m. CT. March feeder cattle were down 95¢. April lean hogs were down $1.53.
March crude oil was up 84¢.
The U.S. Dollar Index March contract was up to 109.12.
March S&P 500 futures were down 92 points. March Dow futures were down 514 points.
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