Corn prices fell on Tuesday, amid broad concerns in agricultural commodity and industrial metals markets due to the escalation in the US-China trade dispute, with the possibility of opening new trade-war fronts between Washington and other countries.
President Trump stated that a trade agreement with China might have to wait until after the presidential election in 2020.
Trump also threatened to impose tariffs against France, if Paris imposed taxes on US technology companies, including Google and Apple.
This mounted fears about the odds for increased trade protectionism between the US and its allies, which hurt the global economy and negatively affect agricultural commodities movement, including corn, especially as China buys a large amount of US farm goods.
As for trading, corn futures (March delivery) at the Chicago commodities exchange (CBOT) fell by 0.1% to close $3.81 a bushel, and hit an intraday high of $3.84 dollars and a low of $3.80.