Chicago agricultural commodities settle mixed as traders await China-U.S. trade consultations

CHICAGO, June 1 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities settled mixed on Friday, as traders wait for a weekend trade consultations between China and the United States.

The most active corn contract for July delivery fell 2.5 cents, or 0.63 percent to close at 3.915 dollars per bushel. July wheat delivery fell 3 cents, or 0.57 percent to close at 5.2325 dollars per bushel. July soybean delivery went up 2.75 cents, or 0.27 percent to close at 10.2125 dollars per bushel.

CBOT soybean futures rose as China's state grain-buying agency COFCO purchased an unspecified number of soybean cargoes, local media reported, citing sources familiar with the transactions.

Still, gains were tempered as the report also said future purchases by China may be limited due to renewed trade tensions.

Tensions have again heated up not only for China but also for several other buyers of U.S. agricultural products. U.S. President Donald Trump on Thursday announced resumption of tariffs on steel and aluminum from Canada, Mexico and the European Union.

All three said they would retaliate by adding tariffs on U.S. products, including agricultural goods. Enditem