BUSINESS US soybeans end the week with 5-pct fall over trade uncertainty

BUSINESS

US soybeans end the week with 5-pct fall over trade uncertainty

Xinhua

02:39, June 10, 2018

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(File photo: Reuters)

Chicago Board of Trade (CBOT) futures settled mixed on Friday with soybeans falling for the fifth session in a row amid uncertainty of US trade policy.

The most active soybean contract for July delivery fell 5 cents, or 0.51 percent to settle at 9.6925 dollars per bushel. July corn went up 1.5 cents, or 0.40 percent to close at 3.7775 dollars per bushel. July wheat was down 6.75 cents, or 1.28 percent to settle at 5.20 dollars per bushel.

The downturn of soybean futures was a result of weak demand from China as well as pro-crop weather conditions in the US Midwest, said market observers.

China, the top buyer of US soybeans, has been active in booking Brazilian soybeans for July and August, amid unsolved trade issues with Washington. The weekly fall of CBOT soybeans has reached 5.09 percent.

Following significant rises in the past three days, the prices of CBOT wheat retreated sharply over profit-taking during the last session of this week.


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