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Chicago corn speculators sharply cut their bullish positions in the week before March 9 as an imminent trade war with Mexico and Canada loomed. Funds also sold wheat and soybeans heavily, with soybean funds flipping to a net short position.
US tariffs on Mexican and Canadian goods were postponed until April.
Fund liquidation amid tariff fears pressured grain prices, while the postponement of tariffs reduces immediate export risk for US feed grains and soy complex.
reuters.comKaren BraunMar 9, 2025After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
