DTN Closing Grain Comments 02/07 13:54

DTN Closing Grain Comments 02/07 13:54 Grain Markets Stumble Into the Weekend Amid Lingering Tariff Concerns Row crop markets were steadily lower on Friday, closing a week of mostly sideways price action following a strong start to the week overall. Tariff concerns continue to be in the back of traders' minds after Reuters reported early Friday that President Trump is planning "reciprocal" tariff action as early as next week. Essentially what that means is any country with a tariff on imports from the U.S. will be met with a matching tariff on U.S. imports from that given country. Specifics are vague at this point, and there was no official confirmation, however, just the notion of increased tariffs had equity markets lower to close the week. Friday's job data was also mixed, with lower-than-expected job creation in January but also lower-than-expected unemployment, down to 4%. This added to the inflationary trade which led to a higher U.S. Dollar and higher treasury yields. Unfortunately for U.S. ag traders, the bolstering of outside commodities such as gold and crude oil Friday did not provide much positive influence to grain markets. Rhett Montgomery DTN Lead Analyst GENERAL COMMENTS: March corn closed down 7 3/4 cents and May corn was down 7 cents. March soybeans closed down 11 cents and May soybeans were down 10 1/4 cents. March KC wheat closed down 3 1/4 cents, March Chicago wheat was down 5 cents, March Minneapolis wheat was down 3/4 cents.