Monday March 10th, 2025

• The corn and wheat markets start the day off in the green, soybeans are trading down to flat.
  • Chinese tariffs take effect on the US and Canada
• Brazil reported February soy exports at 6.43mmt, down from 6.61mmt a year ago, with corn exports at 1.43mmt. 
• China imposed $2.6billion worth of tariffs on Canadian agricultural and food products over the weekend. Tariffs will come into actions March 20th. This move is in response to Canada’s tariffs on Chinese electric vehicles, steel, and aluminum products.
• The ‘funds’ lowered their net corn position, the corn market was net sellers of 117k contracts. The new net long position of 219k contracts is modest. Soybeans and wheat were both new sellers as well,
• Weather Update
  • Light rains moved across through the central Midwest over the weekend with heavier action south. To start to week they will be on the drier side, with wide-spread rain events moving in at the end of the week. 
  • Argentina saw beneficial rains from north to south over the weekend. Smaller chances of rain for the heart of ARG growing areas. 
  • Brazilian rains were heavy in the west, with drier conditions east.