CHICAGO, March 23 (Xinhua) -- Chicago Board of Trade (CBOT) grains closed mixed on Friday, with soybean futures tumbling to its lowest in over a month on worries about trade tensions between the U.S. and China.
Corn closed modestly higher after notching a six-week low on the trade jitters, while wheat rose on bargain-buying and a drier outlook for the U.S. Plains production belt.
The most active corn contract for May delivery rose 1.25 cents, or 0.33 percent to close at 3.7725 dollars per bushel. May wheat delivery went up 4.5 cents, or 0.99 percent to close at 4.6025 dollars per bushel. May soybeans went down 1.5 cents, or 0.15 percent to close at 10.2825 dollars per bushel.
U.S. President Donald Trump on Thursday signed a memorandum that could impose tariffs on up to 60 billion U.S. dollars of imports from China, the latest unilateral move that could draw retaliation from China and lead to trade war.
The American Soybean Association (ASA) on Friday expressed its concern that China may impose tariffs on the oil seeds it sells to China. If that happens, soybean prices would likely fall to lower levels.
"There is a real struggle in agriculture to keep everything going right now. It's extremely frustrating to have the administration taking aim at our largest trading partner," said ASA President John Heisdorffer.
