FX.co ★ Corn Rises Ahead of Tariffs Announcement

Corn futures surged to $4.60 per bushel, marking their highest point in over a week. This rise came as investors prepared for U.S. President Donald Trump’s announcement on reciprocal tariffs, while also assimilating the latest planting forecasts and inventory data from the USDA. On Sunday, Trump declared that the tariffs set for April 2 would apply universally, impacting major agricultural partners such as China, Mexico, and Canada, which could result in retaliatory tariffs on U.S. agricultural exports. In the March Prospective Plantings report, the USDA projected that U.S. farmers will plant 95.3 million acres of corn in 2025, representing a 5% increase compared to 2024 and surpassing market expectations of 94.35 million acres. Furthermore, the agency disclosed that total corn stocks are at 8.15 billion bushels, a decrease from 8.35 billion the previous year but slightly above market predictions of 8.13 billion.