Thursday March 13th, 2025
- The CBOT is rebounding after yesterday’s EU tariff lashing.
- US soybean export sales adding support to the market this morning.
- Below is a chart showing the top ten buyers of US corn for the 2024/25 marketing year.
- US soybean export sales adding support to the market this morning.
- EU tariff retaliation
- A 25% tariff on Corn from the US would be implemented on April 1st.
- US soybeans are targeted under a second tranche of EU tariffs that would take place on April 13th.
- Wheat was not included on either list and at this point would be exempt.
- Canadian farmers are expected to plant less canola and more wheat this year after China’s tariff announcement on Canola.
- Argentine port strike hits 50% of the facilities.
- Brazil’s Conab will release their crop estimate later this morning.
- Ethanol production falls to six-week low amid historical high ethanol stocks, see image below.
- February CPI report released this morning- US consumer prices increased at their slowest pace in four months. Inflation rose 0.2% falling short of the 0.3% expected rise. Economists still remain concerned that the escalating tariffs could drive consumer prices higher. The Fed is expected to keep interest rates unchanged.