Grains in the Red to Start the Week. Monday, Jan. 27, 2025
Just past 8:30 a.m. CT, March corn was down 4¾¢.
March soybeans were down 9½¢.
March wheat contracts were also lower. CBOT wheat was down 2½¢. KC wheat was down 1½¢. Minneapolis wheat was down 1½¢.
This morning, USDA announced Mexico is buying 139,000 metric tons of corn for the 2024/2025 marketing year.
Naomi Blohm, senior market advisor at Total Farm Marketing, said it is likely to be volatile week for the grain markets. She also said grains are at a tipping point, with supportive factors including lower U.S. ending stocks, robust export and ethanol demand, and dry weather in Argentina. Factors she said would send prices higher include avoiding trade wars, poor weather for Brazil’s second corn crop, positive biofuel news, and poor U.S. weather this spring and summer.
“Markets are aware that this Saturday (Feb. 1) is when tariffs go into effect for Mexico, Canada, and China,” she added.
April live cattle were down 33¢ a little past 8:30 a.m. CT. March feeder cattle were up 8¢. April lean hogs were up 10¢.
March crude oil was down 23¢.
The U.S. Dollar Index March contract was down to 106.97.
March S&P 500 futures were down 108 points. March Dow futures were down 198 points.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
Read also
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