Chicago grains regain ground with exports in focus

Chicago corn, wheat and soybean futures edged higher on Thursday, recouping some of the previous session’s losses as traders assessed tariff announcements and awaited U.S. export data for a gauge of overseas demand. Grain markets were unsettled on Wednesday by the implementation of increased U.S. tariffs on all steel and aluminium imports, prompting the European Union and Canada to announce retaliatory duties on a range of U.S. goods. The EU package, which could see the bloc reintroduce a 25% duty on U.S. corn and potentially add a tariff on U.S. soybeans, added to concern about disruption to U.S. exports caused by President Donald Trump’s tariff offensive. However, traders remained caution given twists and turns in tariff negotiations. “Operators are now eagerly awaiting the USDA’s weekly export sales figures, especially on corn, which is being closely monitored in the current context of the trade war,” Argus analysts said in a note. The U.S. Department of Agriculture is due ...