US tariff delays still plague Chicago

Published Feb 5, 2025

Tridge summary

The American market experienced a rise in wheat, corn, and soybeans and soybean meal on Tuesday evening in Chicago. This optimism was fueled by the delay of a 25% import tax on products from Canada and Mexico, suggesting that President Trump is open to negotiations with his trading partners. Despite the implementation of a 10% customs duty on Chinese imports, the market viewed Beijing's response as reasonable. Additionally, the USDA's confirmation of a corn sale to South Korea contributed to the positive trend.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The American market maintained its optimistic note on Tuesday evening in Chicago, with a combined increase in wheat, corn, as well as soybeans and soybean meal. The one-month postponement of the 25% import taxes announced on products from Canada and Mexico reassured operators about Donald Trump's willingness to reach agreements with his main trading partners. The additional 10% customs duties on Chinese imports have, however, come into force, but Beijing's response (equivalent duties on certain American products) was ultimately deemed measured by the market. Donald Trump and Xi Jinping are also expected to hold talks in the coming days in order to warm up their trade relations. The USDA also provided some support to the trend during the session by confirming a sale of ...

Source: TerreNet