Corn Futures Rise Following Trump’s Tariff Announcement

Corn futures experienced an uptick late in the trading session on Wednesday, buoyed by President Trump’s announcement regarding tariff relief. Most contracts rose between 4 and 6 cents. The front month CmdtyView national average Cash Corn price increased by 5 1/4 cents, reaching $4.46 1/2.

During the Wednesday session, President Trump declared a 90-day tariff pause for targeted countries, excluding China. However, a blanket 10% tariff remains in effect for all nations, while new tariffs on imports from China have surged to 125%.

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Data released by the EIA this morning indicated a drop in ethanol production by 42,000 barrels per day for the week ending April 4, bringing output to 1.021 million bpd. Despite this decline, stocks increased by 422,000 barrels, reaching a total of 27.034 million barrels. Ethanol exports grew by 112 bpd, totaling 174,000 bpd, while refiner inputs declined by 26,000 bpd to 872,000 bpd.

Export Sales data is projected to report between 0.7 and 1.3 MMT of old crop corn sales for the week ending April 3. For the 2025/26 crop year, sales are estimated to be between 0 and 150,000 MT.

On Thursday morning, the USDA will release its monthly WASDE report, with traders anticipating a reduction in U.S. ending stocks by an average of 30 mbu, bringing the total to 1.51 billion bushels. Estimations vary widely between 1.405 and 1.605 billion bushels. Furthermore, South American estimates are expected to see cuts, with Argentina projected to decrease by 0.7 MMT from March, reaching 49.3 MMT, while Brazil is estimated at 125.91 MMT, a slight reduction from 126 MMT in March.

May 25 Corn closed at $4.74, an increase of 5 cents.

Nearby Cash reached $4.46 1/2, up 5 1/4 cents.

Jul 25 Corn finished at $4.80 1/2, up 5 3/4 cents.

Dec 25 Corn closed at $4.50 3/4, marking a 5-cent gain.

New Crop Cash was priced at $4.14 1/1, up 4 1/2 cents.

On the date of publication, Austin Schroeder did not hold (directly or indirectly) positions in any of the securities mentioned in this article. All information and data herein are for informational purposes only. For further details, please see the Barchart Disclosure Policy
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