Tidbits, Tariffs, Aviation Fuel, Panama Canal 4/5/25
- Wright Team
- 13 minutes ago
- 5 min read
Tidbits
At 5 AM Central yesterday morning, China announced an additional 34% tariff on all U.S. products beginning 10 April and Reuters reported China halted poultry products imports from two unnamed American companies. China added five other countermeasures that do not appear to be ag related. Corn, beans, and wheat dropped dramatically in the 30 minutes after the news was released while us peon market watchers wondered what happened.
Corn fully recovered and settled higher, the winter wheats recovered half their loss, spring wheat recovered most of its losses, but beans recovered only 7 of its 40¢ loss.
This marketing year, a lot of U.S. beans have been exported to China, but wheat and corn did not go to China this year. The world has plenty of beans with the current South American harvest, but a short supply of corn. Mexico is the biggest buyer of U.S. corn and their president said no counter measures will be made to Trump’s tariffs, meaning no tariff on U.S. corn. It is logical the price of corn should not have been down because of China’s tariff news other than lower bean prices logically will mean a few more corn acres.
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