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​Chicago soybean futures fall to record low on dimmed export prospect

2018-09-19 08:49

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Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Tuesday, with soybean futures falling to record low as traders worried about the export prospect to U.S. soybean crop.

The most active corn contract for December delivery went down 4.75 cents, or 1.36 percent to close at 3.4325 dollars per bushel. December wheat delivery added 4.25 cents, or 0.84 percent to close at 5.105 dollars per bushel. November soybean delivery went down 9.5 cents, or 1.15 percent to close at 8.14 dollars per bushel.

The major cause of CBOT soybean's lied in the Washington's latest tariff offensive against Beijing, analysts said.

China on Tuesday filed an additional complaint with the World Trade Organization against the U.S. decision to impose tariffs on 200 billion U.S. dollars worth of Chinese goods under the Section 301 investigation, according to the Ministry of Commerce.
Corn futures also hit contract lows as the U.S. harvest expanded, while wheat futures rose on tightening global supplies.

As for weather forecast for agricultural crop, it is going to be "unseasonably" hot and humid in parts of central Kansas, according to the National Weather Service.

Rain is also possible in parts of eastern Iowa and western Illinois where the harvest is just getting under way. There's a "marginal" risk of severe storms that would include hail and strong winds, the National Weather Service said in a report early Tuesday morning. Enditem
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