Tariff pressure rises, fuel and fertilizer costs shift | Weekly Commodity Market Update
This week Will and Ben discuss the tariff back and forth and fuel and fertilizer prices ahead of spring planting.
Market recap (changes on week as of Monday's close):
» March 2025 corn up $.05 at $4.87
» December 2025 corn up $.06 at $4.66
» March 2025 soybeans up $.07 at $10.49
» November 2025 soybeans up $.06 at $10.57
» March soybean oil flat at 45.98 cents/lb
» March soybean meal up $.30 at $301.40/short ton
» March wheat up $.23 at $5.82
» July 2025 wheat up $.22 at $6.06
» March 2025 cotton down 0.25 cents at 65.63 cents/lb
» December 2025 cotton flat at 68.61 cents/lb
» October WTI Crude Oil down $1.53 at $71.00/barrel
Weekly highlights:
The February 2025 JOLTS report revealed that US job openings decreased to 7.3 million, indicating a continued cooling in the US labor market.
The February 2025 US employment report showed a gain of 143,000 jobs- down from 170,000 job expectations with unemployment rate edging down to 4.0%, while average hourly earnings increased by 0.5% to $35.87/hour.
US crude oil stocks increased 364 million gallons and US gasoline stocks were up 94 million gallons, while distillate fuel stocks fell 229.8 million gallons.
US ethanol production rebounded sharply to a calendar year record of 327 million gallons- up from 298 million the week prior. Ethanol stocks increased 29 million gallons.
It was a neutral to bullish week for US grain and oilseed export sales- US corn export sales of 58.2 million were at the top of expectation, while soybean sales of 14.2 were towards the bottom. All wheat exports sales were reported at 16.1 million bushels.
Open interest in futures and options contracts of grains and oilseeds was up 3.3% week over week while producer and merchants increased their net short position 6.8% and money managers added another 51,836 net long contracts.
Topics:
» Market recap
» Trade tariff pressure continue to build
» Diesel stocks continue to fall
» Fertilizer prices shifting ahead of spring
» Reports to watch
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