03/04/2025 Tariffs Send the Elevator Down

On the Grains
Corn futures were lower for a seventh session in a row before overnight selling threatened to make it eight straight. The adage is that prices take the stairs up but the elevator down. It is now only nine sessions since the May corn contract made a new one-year high at $5.18 3/4. Prices have already retraced more than two-thirds of the run up from the August 26 low at $4.14 1/4. Soybeans were breaking below $10 after having just marked out a high on February 5th at $10.92 1/2.