CBOT soybean futures close mixed amid trade concerns
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E-mail Xinhua, April 7, 2018
Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Friday, with soybean futures rising, amid escalating trade tensions between China and the United States.
Wheat futures rallied with concerns about cold weather posing threat to winter wheat in the drought-affected U.S. Plains. Corn futures fell slightly on traders' technical selling.
The most active corn contract for May delivery fell 1 cent, or 0.26 percent at 3.885 dollars per bushel. May wheat delivery went up 7.5 cents, or 1.61 percent to close at 4.7225 dollars per bushel. May soybeans rose 2.5 cents, or 0.24 percent to settle at 10.3375 dollars per bushel.
U.S. President Donald Trump said on Thursday he has asked the U.S. Trade Representative to consider slapping 100 billion U.S. dollars of additional tariffs on China, ratcheting up trade tensions and plunging economic growth into uncertainty.
China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices, a spokesperson with the Chinese Ministry of Commerce said Friday.
The moves came after both sides earlier this week unveiled a list of products worth 50 billion U.S. dollars imported from the other side that will be subject to higher tariffs.
The U.S. Department of Agriculture on Friday said private exporters reported 100,000 tonnes of corn for delivery to Egypt ,and 130,632 tonnes of soybean for delivery to Mexico.
