The most active corn contract for July delivery was down 2.75 cents, or 0.64 percent to 4.2425 U.S. dollars per bushel. July wheat was up 16.75 cents, or 3.33 percent to 5.1975 dollars per bushel. July soybeans were up 1.25 cents, or 0.14 percent to 8.79 dollars per bushel.
U.S. President Donald Trump on Thursday said he would impose a new 5-percent tariff on all imported Mexican goods beginning June 10 so as to pressure the country to halt undocumented migrants crossing the border. The move sent CBOT corn futures significantly lower in the past two sessions.
On the other hand, prolonged delay of corn and soybean planting due to wet weather conditions kept their futures' fall in check.
According to the latest crop progress report released by the U.S. Department of Agriculture (USDA) on Monday, only 39 percent of soybeans were seeded as of June 2, well behind the five-year average of 79 percent.
As for corn, 67 percent has been planted, compared to 96 percent of the whole acreage in the past five years.
CBOT wheat climbed more than 3 percent as rainstorms hit the central and southern U.S. plains over the weekend, which triggered fears of damage to the crops there.
Severe thunderstorms are once again possible across parts of the wheat growing region this week. The U.S. National Weather Service said on Monday that the main threats from these storms will be damaging wind gusts, very large hail and potential for flash flooding.
Meanwhile, wheat inspected for export in the weed ending May 30 was pegged at 592,744 metric tons, up from 530,797 metric tons in the previous week, according to another USDA report. The sign of increased export sales gave wheat futures additional support, said market watchers. Enditem
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