CBOT soybean futures tumble over 1 pct amid trade concerns
Xinhua,May 05, 2018 Adjust font size:
CHICAGO, May 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities traded lower on Friday, with soybean futures dropping over 1 percent as investor were worried about trade war between China and the United States.
The Weekly Export Sales Report by U.S. Department of Agriculture (USDA) showed China not only didn't buy old-crop U.S. soybeans last week, but also they ended up canceling shipments totaling 133,700 tonnes.
Corn and wheat futures were also lower, following soybeans.
The most active corn contract for July delivery went down 1.75 cents, or 0.43 percent to close at 4.05 dollars per bushel. July wheat delivery fell 2.5 cents, or 0.47 percent to close at 5.2675 dollars per bushel. July soybean delivery dropped 10.25 cents, or 0.97 percent to close at 10.43 dollars per bushel.
The Central U.S. weather forecast is dry for the western U.S. Plains with warm temps to allow farmers back in the fields to plant this weekend. USDA looks for some 34-38 percent of the U.S. corn crop to be planted through Sunday. Enditem