Chicago Corn futures and soy of the Chicago Stock Exchange fell on Thursday because the operators took profits after recent increases and before the weekend, when President Donald Trump announced that he will impose tariffs on imports from Canada and Mexico.
Operators pointed out that corn touched a maximum of 15 months and soy was around a six -month peak during the previous session, when the warm and dry climate in the belts of these cereals in Argentina revived concerns about world supply.
Chicago’s most active corn futures lost 6 cents, at 4.91 dollars El Bushel, while soybeans fell 17.75 cents, at 10.43 dollars El Bushel.
Disappointing rainfall in Argentina and drought perspectives for the coming weeks in the country probably continue to support corn and soy futures.
The operators are waiting to see if Trump fulfills their threats to impose tariffs against Mexico and Canada, which would probably unleashed reprisals of two of the greatest importers of US crops.