Grain futures market bulls got a solid gut-punch on Friday when President Donald Trump abruptly canceled a planned meeting with Chinese President Xi Jinping and threatened to implement “a massive increase” in tariffs on Chinese products. The White House decision followed a tense week of tariff maneuvers and export restrictions that have sent ripples through global markets.
December corn (ZCZ25) futures fell 5 1/4 cents on Friday to $4.13 and for the week were down 6 cents. November soybeans (ZSX25) fell 15 1/2 cents to $10.06 3/4, on the week down 11 1/4 cents. December soft red winter wheat (ZWZ25) fell 8 cents to $4.98 1/2 and hit a contract low on Friday. For the week, December SRW was down 17 1/4 cents. December hard red winter wheat (KEZ25) lost 6 3/4 cents to $4.83 and set a contract low. December HRW was down 14 cents for the week.
