CBOT corn eases as market assesses tariff threats
CHICAGO, Nov 26 (Reuters) -Chicago Board of Trade corn futures slipped on Tuesday following President-elect Donald Trump's threat of tariffs against major trading partners, while forecasts for a strong South American crop also put pressure on prices, traders said.
Trump, who takes office on Jan. 20, said on Monday he would impose a 25% tariff on imports from Canada and Mexico until those countries clamped down on drugs and migrants crossing the border, while also outlining an additional 10% tariff on imports from China.
Analysts said the threat of tariffs may have already been factored into the market.
Farmer selling and traders unwinding positions ahead of the expiration of the December contract have also pressured the front-month contract.
Showers forecast for South America continued to aid the growth of the corn crop, according to Commodity Weather Group.
Most-active CBOT March corn CH25 settled down 5 cents at $4.28 per bushel.
Reporting by Heather Schlitz; editing by Jonathan Oatis
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