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Grain market response to tariffs “not horrible”

Market analyst DuWayne Bosse tells Brownfield the grain markets would likely be lower if additional reciprocal tariffs on Mexico were announced.

“If we had additional tariffs on our top buyer of U.S. corn, I think the corn market would be 10 to 15 cents lower, easily.”

Bosse says the retaliatory tariffs shouldn’t affect old crop soybean export sales to China, but he’s concerned about how it will impact new crop soybean exports.

“Watch when we get into May, June and July. That’s when China should start buying our new crop soybeans. If they don’t put much of it on, we’re going to start trimming our export demand forecast. Remember, world stocks for soybeans are record high right now and they’re at a 17-year low in corn.”

He says he’s not expecting grain and oilseed markets to move higher in the near-term.