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Agricultural Commodities Under Pressure, Livestock Trade Higher

June 18, 2018 at 20:46 by Vladimir Vyun

Grains and softs were under pressure on Monday due to the threat of a full-scale trade war between the United States and China. Rains in parts of the USA also hurt some commodities, particularly cotton. Futures for delivery of cotton dropped as much as 2.31% to $0.8777 per pound as of 20:30 GMT on ICE today. September contract for corn slid 1.42% to $3.655 per bushel on CBoT. Wheat lost 2.34% of its value, trading at $5.015 per bushel. Soybeans, which potentially would be hit hardest by the US-China trade spat, surprisingly managed to log gains as the most-traded contract for delivery in November edged up by 0.11% to $9.315 per bushel.

Livestock futures managed to fare far better during the Monday’s session. Futures for delivery of live cattle in August gained 0.38% to $1.0518 per pound on CME. Feeder cattle advanced 0.68% to $1.4898 per pound. Lean hogs jumped 1.5% to $0.7943 per pound.

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