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CHICAGO, July 10 (Xinhua) – Chicago Board of Trade (CBOT)
agricultural products closed lower Tuesday, with soy
futures contracts falling for the second consecutive session
China-United States trade friction, improving weather conditions in the United States
Midwest.
The most active corn contract for December delivery fell
6.25 cents, or 1.7% to close at $ 3.6075 a bushel.
September wheat delivery fell 16 cents, or 3.15 percent to
$ 4.92 per bushel. Soybean delivery in November was 0.5 cents
lower, 0.06% to close at $ 8.715 per bushel.
Investors were very concerned about the impact of trade
friction between the first two economies in the world after the United States
States started imposing an additional 25 percent tariff on the Chinese
products worth 34 billion US dollars Friday.
As a result, China canceled soybean purchases in the United States
delivery for the 2017-2018 and 2018-2019 marketing years, the United States
Department of Agriculture said in a report Friday.
CBOT Corn Futures Prices Falled to Contract Holes on Forecast for
stimulating rains and milder temperatures in the heart of the United States
Corn belt.
Wheat futures tumbled more than 3 percent on dull export demand
and improve conditions for spring wheat crops.
Weekly Progress Report on the Culture of the United States Department of Agriculture
released on Monday showed that 75 percent of the US corn crop is
rated good or excellent (down 1 percentage point), 71%
American soy is considered good or excellent (unchanged) with 80
Percentage of US spring wheat deemed good or excellent
percentage points). Enditem
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