Grain Market Commentary 2/24/26
CBOT:
Corn finished mostly lower, tracking wheat rather than soybeans. Mar26 futures edged 1/4 cent higher to $4.2775. The May26 contract fell 1.75 cents to $4.385, while Jul26 futures declined 1.25 cents to $4.475.
Soybeans closed 2 to 6 cents higher on continued fund buying. Mar26 futures gained 5.25 cents to settle at $11.395, and the May26 contract added 5.5 cents to $11.5525. The soybean trend remains upward.
Market Headlines:
The US imposed a new tariff on Tuesday of 10% on all goods not covered by exemptions:
President Trump initially announced a temporary 10% global tariff, then raised the rate to 15% on Saturday. However, US Customs and Border Protection later stated that, “aside from products covered by exemptions, imports will be subject to an additional ad valorem rate of 10%.” Officials did not explain why the lower rate was implemented, adding to ongoing uncertainty surrounding US trade policy.
On Monday, President Trump warned that countries that withdraw from recently negotiated trade agreements in response to the tariff changes will face significantly higher duties under different trade laws.
FedEx sues the US government for tariff refund:
On Monday, FedEx filed a lawsuit against the US government seeking a full refund of duties assessed under President Trump’s tariffs imposed through the International Emergency Economic Powers Act. The company is also requesting interest and compensation for what it describes as financial losses resulting from the tariffs.
President Trump scheduled to give State of the Union address on February 24th:
President Trump will deliver his annual State of the Union address tonight at 9:00 p.m. EST from the White House. The president is expected to outline the administration’s progress over the past year and discuss policy priorities for the next three years.
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