Grains Start Day in the Red. Friday, Feb. 7, 2025

Shortly after the market opened at 8:30 a.m. CT, March corn was down 4¾¢ at $4.90½ per bushel.

March soybeans were down 8¼¢ at $10.52¼ per bushel.

March wheat contracts were also lower. CBOT wheat was down 5¢ at $5.82¾ per bushel. KC wheat was down 1¾¢ at $6.05¾ per bushel. Minneapolis wheat was down 3¢ at $6.25½ per bushel.

“The markets remain headline driven as we head into the weekend,” said Arlan Suderman, chief commodities economist at StoneX. “China’s retaliatory tariffs were somewhat limited, but they are set to go into effect on Monday. That has traders watching for signs of some type of agreement over the weekend, although that’s more hope than expectation. We’ve heard rumors inside of China of a possible revival of the Phase-One trade deal between China and the United States that was inked in President Trump’s first term in office. In fact, Trump’s nominee for the office of U.S. Trade Representative, Jamieson Greer, indicated that he would try to revive the deal….”

Next Tuesday, USDA is expected to release the monthly World Agricultural Supply and Demand Estimates (WASDE) report.

“Trade estimates for the upcoming Feb. 11 USDA report do not suggest any big surprises,” said Al Kluis, managing director of Kluis Commodity Advisors. “U.S. ending stocks are expected to decline slightly as exports increase slightly. Will the funds that are holding a large position in corn use this report as an opportunity to exit longs or buy more on a dip?”

April live cattle were up 53¢ at $197.30 per hundredweight (cwt) shortly past 8:30 a.m. CT. March feeder cattle were up 43¢ at $265.73 per cwt. April lean hogs were down 18¢ at $91.58 per cwt.

March crude oil was up 72¢ at $71.33 per barrel.

The U.S. Dollar Index March contract was up to 107.57.

March S&P 500 futures were up 8 points. March Dow futures were down 48 points.

Tags: corn, soybeans, wheat, futures, live cattle, feeder cattle, lean hogs