Soy, corn and wheat dip after no-tariff rally
CANBERRA, Jan 22 - Chicago corn, soybean and wheat futures dipped on Wednesday, after rallying in the previous session when Donald Trump's first full day as U.S. president passed without him following through on promises to impose tariffs on agricultural trade. * However, soybean supply is plentiful, with the Abiove oilseed group raising its production estimate for the 2024/25 season in Brazil - the world's top soy producer - by 3 million metric tons to 171.7 million tons. * S&P Global Commodity Insights projected on Tuesday that U.S. farmers would increase their corn planting and decrease their soybean planting this year. MARKETS NEWS * Global stocks gained as a flurry of new policies from Trump combined with robust corporate earnings to bolster investor optimism, while tariff uncertainty kept the dollar near two-week lows.
Grain prices tumble as markets react to upgraded estimates of corn, soy production
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