Chicago Board of Trade soyabean futures closed lower on Thursday on technical selling and fears that global trade tensions could curb export demand for US soya, traders said. CBOT July soyabeans settled down 4-1/2 cents at $10.18-1/2 per bushel after dipping to $10.13-1/2, the contract's lowest since May 21. For the month, the contract fell 30 cents a bushel, or nearly 3 percent, its third straight monthly decline.
Soyabean futures turned lower Thursday after the United States said it would impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, reigniting fears of a global trade war. The move came days ahead of a visit by US Commerce Secretary Wilbur Ross to China, the world's biggest soya importer. Ross is expected to try to get China to agree to firm numbers to buy more US goods.
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