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NGFA analysis: ‘When U.S. uses trade policy to restrict agricultural exports, U.S. agriculture pays the price’ | Impacts of a declining U.S. dollar

Corn, soybeans and wheat traded on both sides of unchanged overnight but are higher and near their session highs this morning, despite the escalating U.S./China tariffs war.

The plunge in the U.S. dollar to the lowest since April 2022 has far-reaching implications, including good and bad impacts for agriculture.

Tariffs on China now higher than originally indicated by Trump.

April 10, 2025

April 10, 2025

April 10, 2025

Markets showed a relatively muted response to the report data.

Corn ending stocks for 2024-25 were lowered to 1.465 billion bu., notably lower than the average pre-report estimate of 1.510. Soybean ending stocks were pegged at 375 million bu., 4 million bu. below the average pre-report estimate.