Thursday March 6, 2025

• The market is in the green this morning on a continuation short covering rally from Wednesday. 
• The nearby corn and soybean contracts are looking for their second straight day of a much needed recovery.
• Trumps tariffs could result in export sale cancellations.
  • 12mmt of US crop is at risk of being cancelled as a result of tariff driven cost increases and trade uncertainty.
  • For the current marketing year 7.8mt of corn remains unshipped to Mexico. 
  • Soybean sales to China are also a risk but the impact would be smaller as only 1.6mmt remain unshipped.
• Trump has urged US farmers to remain patient as the tariffs deepen the ongoing economic challenges for them. 
• The condition of Russia’s wheat crop has improved throughout the winter.
• See the charts below for a look at the May 25 corn and soybean contracts.