A monthly U.S. Department of Agriculture supply and demand report due this week will consider trade policies in place when the forecasts for grains and soybeans are issued, an agency official said on Thursday, as President Donald Trump suspended tariffs he imposed this week on Canada and Mexico.
Grain traders and farmers will look closely at how USDA adjusts its World Agricultural Supply and Demand Estimates, due on March 11, as tariffs have fueled worries the U.S. will lose export markets for farm products. The nation relies on exports and competes with rival suppliers, such as Brazil, for global sales of crops like corn and soybeans. Trump on Thursday exempted goods from Canada and Mexico under a North American trade pact for a month from the 25% tariffs that he had implemented, the latest twist in fast-shifting trade policy. The president has also imposed tariffs of 20% on all imports from China, prompting Beijing to retaliate against American agricultural and food products.
