CBOT soybean futures fall amid trade tensions

CHICAGO, May 31 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities settled mixed on Thursday, with soybean futures falling amid renewed trade tensions.

Wheat and corn futures went up on bargain-buying and fears of tightening global supplies.

The most active corn contract for July delivery rose 0.5 cent, or 0.13 percent to close at 3.94 dollars per bushel. July wheat delivery added 4.25 cents, or 0.81 percent to close at 5.2625 dollars per bushel. July soybean delivery went down 4.5 cents, or 0.44 percent to close at 10.185 dollars per bushel.

U.S. Commerce Secretary Wilbur Ross said Thursday that the country will impose tariffs on steel and aluminum imported from the European Union (EU), Canada and Mexico from Friday.

The move is almost certain to draw a response from Mexico and Canada, which are threatening to retaliate with their own tariffs on American products including grains such as corn or wheat.

As for international market, Egypt, the world's biggest importer of wheat, rejected the shipment from Russia due to excessive amounts of grain fungus, according to a statement of Egypt's Agriculture Ministry.

That may mean the North African nation will turn to the United States for wheat supplies. Enditem