DTN Closing Grain Comments 11/26 13:47

DTN Closing Grain Comments 11/26 13:47 Ag Markets Post Mixed Reaction Tuesday to Trade Rhetoric From President-Elect Trump The holiday week thus far has featured surprisingly high volume trade considering the lack of fresh fundamental news entering the market on any given day. The market did get a soundbite to drive trade Tuesday as U.S. President-elect Donald Trump announced Monday evening his plans to implement a 25% tariff on imports from both Mexico and Canada, with an additional 10% tariff on imports from China on his first day in office, Jan. 20. This, of course, sets the stage for retaliatory tariffs from all three countries, which are likely to target agricultural commodities. The markets were initially slow to react to this news, likely due to the overall sleepy tone in general on a holiday week; but midmorning traders stepped in with a renewed round of selling, which drove prices slightly lower across the ag complex. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 5 cents and May corn was down 4 1/2 cents. January soybeans closed down 2 1/4 cents and March soybeans were down 1/4 cents. March KC wheat closed up 1 3/4 cents, March Chicago wheat was up 2 1/4 cents and March Minneapolis wheat was up 3 3/4 cents.