CBOT crop futures fall on poor export sales, trade tensions
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E-mail Xinhua, June 8, 2019
CHICAGO, June 7 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures fell on Friday morning over poor export sales and trade tensions.
As of 1529 GMT, the most active corn contract for July delivery was down 2.75 cents to 4.1775 U.S. dollars per bushel. July wheat was down 1.4 cents to 5.085 dollars per bushel. July soybeans were down 9 cents to 8.5975 dollars per bushel.
Export sales of U.S. corn and wheat were reported as net reduction as several countries canceled purchases, according to the latest weekly report.
The U.S. Department of Agriculture reported a net wheat export reduction of 26,000 metric tons for delivery in the 2018/19 marketing year for the period of May 24-30, down noticeably from the previous week and from the prior four-week average.
Meanwhile, corn sales in the week resulted in a net reduction of 8,800 metric tons for the 2018/29 marketing year.
Soybeans continued to fall amid prolonged trade tensions between the United States and the top soybean buyer China, said market watchers. Enditem
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