Corn futures close lower as trade war heats up

Economies.com
2019-12-03 22:07PM UTC

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.

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...