Chicago Board of Trade corn futures fell on Wednesday after China announced plans to impose import duties on key US commodities including corn and soyabeans. CBOT May corn settled down 7-1/2 cents at $3.81 per bushel. The benchmark contract fell through several key moving averages during the trading session, but closed above its 50- and 200-day moving average.
China announced plans to impose import duties on key US imports including soyabeans, beef and corn in retaliation for US plans to impose tariffs on $50 billion in Chinese goods.