Chicago Close: Crop Futures Bounce

Mar 07, 2025

Corn, wheat, and soybean futures were mostly higher on Wednesday, bouncing on ideas that US tariffs levied a day earlier might be clawed back.

Crop futures fell heavily on Tuesday when the tariffs were announced, with stock markets also posting sharp losses. However, US Commerce Secretary Howard Lutnick said later that day that US President Donald Trump might be willing to compromise. Trump reportedly agreed to a 1-month delay on auto tariffs today.

Trump hit US imports of most goods from Mexico and Canada with a 25% tariff on Tuesday and doubled duties on Chinese goods to 20%. Both Canada and China announced immediate retaliatory measures, with trade action from Mexico expected to be announced over the weekend.

Bargain buying, after both corn and soybeans fell to multi-month lows yesterday, also helped to boost markets.

May corn gained 4 ¼ cents to $4.55 ¾, and December was steady at $4.46 ¾. May soybeans climbed 12 ¾ cents to $10.11 ¾, and November was up 6 cents at $10.09 ½.

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Video: Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Darcy Unger just invested millions to build a brand-new seed plant on his farm in Stonewall, Manitoba so when it’s time for his sons to take over, they have the tools they need to succeed.

Right now, 95% of the genetics they’ll be growing come from Canadian plant breeders.

That number matters.

When fusarium hit Western Canada in the late 90s, it was Canadian breeders who responded, because they understood Canadian conditions. That ability to react quickly to what’s happening on Canadian farms is exactly what’s at risk when breeding programs lose funding.

For farmers like Darcy, who have made generational investments based on the assumption that better genetics will keep coming, the stakes are direct and personal.

We’re on the brink of decisions that will shape our agricultural future for not only our generation, but also the ones to come.

What direction will we choose?

On The Brink is a year-long video series traveling across Canada to meet the researchers, breeders, farmers, seed companies, and policymakers shaping the future of Canadian plant breeding. Each week, a new story. Each story, a piece of the bigger picture.

Episode 3 is above. Follow Seed World Canada to catch every episode, and tell us: Do you think the next generation will have the tools they need to success when they takeover? How is the future going to look?