Loading…
Chicago corn fell about 0.6% on Tuesday after reaching a six-month high in the prior session, with dryness concerns in Argentina limiting losses. Soybeans and wheat also declined after a disappointing USDA export sales report.
Traders weighed whether Trump's tariffs would be less aggressive than promised, and the dollar hovered near a one-week low.
Argentine dryness supports corn and soymeal supply concerns, while a weaker dollar and possible tariff relief support export demand, though soybean prices remain exposed to trade-war risk.
brecorder.comReutersJan 7, 2025After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Tuesday wheat declined after a disappointing USDA export sales report, with traders weighing tariff risk, which is a demand-side and sentiment driver close to the move date.
