Grain Markets and Other Stuff

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Grain Markets Fall Sharply 📉
The grain markets saw a significant decline on Monday, with the May25 corn contract losing 8 cents, soybean futures dropping by 10 cents, and wheat futures falling 10-12 cents per bushel. The selloff is likely linked to a shift in Argentina's weather, as key corn and soybean areas saw beneficial rainfall, with more forecasted across the country. 🌽🌧️

China's Pork Consumption Stalls 🐖
China's pork consumption has slowed due to oversupply and economic struggles, which has led to a surplus and suppressed prices. The government is considering overseeing hog slaughter and regulating production capacity, which could impact global soybean prices, as China is the largest importer of soybeans for livestock feed. 🐷📉

Brazil's Soybean Forecast Lowered 🌾
AgRural reduced its forecast for Brazil's soybean crop to 168.2mmt, down from 171mmt due to dry conditions in the southern region. While soybean harvest progress is on track, Brazil's second corn crop planting remains behind last year's pace, with only 64% planted as of last Thursday. 🇧🇷🌱

Tariffs on Canada and Mexico to Proceed 🇲🇽🇨🇦
President Trump confirmed that 25% tariffs on Canadian and Mexican imports will move forward, despite some uncertainty surrounding the details. The tariffs are aimed at securing stronger borders, and Trump has also warned of additional tariffs on steel and aluminum in March. ⚒️💵

Mexico Considers Tariffs on China 🇲🇽🇨🇳
Mexico is weighing the possibility of implementing tariffs on China while working to avoid the 25% tariff threat from the US. This comes amid ongoing negotiations on stronger action against migrants and fentanyl, which could trigger tariffs in March. 💣🔻

US Corn Shipments Decline 📉
US corn shipments declined last week, with only 1.1mmt (45mil bushels) inspected for export, down 30% from the previous week. Soybean shipments showed a slight increase, but wheat shipments were also lower than expected, down 22% from last year. 🚜📦