Fearing the potential for a Trump surprise over the weekend, corn, wheat, and soybean futures all finished with losses on Friday.
Although threatened US tariffs on Canada and Mexico were pushed back until March, Trump has also said he plans to levy tariffs on imports from the EU. No date has been given for the implementation of the tariffs, leaving markets nervous.
Meanwhile, after beneficial showers earlier this week, mostly hot, dry weather is expected for Argentina through this weekend. However, a period of wetter weather is forecast to begin in southern Argentina on Monday before moving northward from Tuesday and into Thursday. In Brazil, the central soybean areas are expected to see on and off again showers for the next couple of weeks, likely leading to further harvesting delays.
March corn lost 7 ¾ cents to $4.87 ½, and December was down 3 ¾ cents at $4.66. March beans dropped 11 cents to $10.49 ½, and November fell 8 ½ cents to $10.57 ½.
March contract liquidation weighed on wheat, as did the fear of more Trump tariffs. March Chicago lost a nickel to $5.82 ¾, March Kansas City closed 3 ¼ cents lower at $6.04 ¼, and March Minneapolis dipped a ¼ cent to $6.37 ¾.
