Corn Market Shows Decline Amid Political Uncertainty
Prices Dip as Trump Considers Tariffs on NAFTA Partners
Corn futures are experiencing a decline, with contracts down 6 to 7 cents as midday approaches. The national average cash corn price from cmdtyView has decreased by 6 cents, now sitting at $3.96 1/2 per bushel.
In a post on Truth Social Monday evening, President-elect Trump announced his intention to sign an executive order imposing a 25% tariff on all products from Mexico and Canada. This decision is said to stem from ongoing concerns regarding the open border. While the market’s initial reaction overnight was muted, it has shown a weaker trend as the day progresses.
In separate developments, South Korean importers secured two corn purchases on Tuesday morning, acquiring 133,000 metric tons and 65,000 metric tons of international corn, respectively.
Dec 24 Corn is currently priced at $4.18 3/4, reflecting a decrease of 6 cents.
Nearby Cash stands at $3.96 1/2, down 6 cents as well.
Mar 25 Corn is trading at $4.26 1/4, down 6 3/4 cents.
May 25 Corn is currently at $4.33 3/4, also down 6 cents.
On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are provided solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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