US soy, corn, wheat rise for second day on tariff relief hopes

Chicago soybean, corn and wheat futures rose for a second session on Thursday to recover further from multi-month lows as signs that Washington may ease tariffs on Canada and Mexico tempered fears about disruption to agricultural trade. The White House on Wednesday said U.S. President Donald Trump will exempt automakers from his tariffs on Canada and Mexico for one month as long as they comply with the terms of an existing free trade agreement, and said he is open to hearing about other products that should be exempted. The tariff relief helped Chicago futures rebound from lows on Tuesday when the implementation of U.S. tariffs against Canada, Mexico and China, followed by retaliatory levies from Ottawa and Beijing, rattled investors. “Ongoing negotiations between the U.S. and Canada, as well as between the United States and Mexico, give a glimmer of hope to American operators,” Argus said in a grain note. The most-active soybean contract on the Chicago Board of Trade (CBOT) ...