CBOT soybeans slide as China lowers import estimates

Updated 2018-05-14 16:02:04 Xinhua

Chicago Board of Trade (CBOT) soybeans fell sharply on Friday morning after top buyer China lowered its import estimates for 2018/19.

Soybean futures suffered double digit losses after China, the biggest importer of U.S. soybeans, predicted a decline in the oil seed imports for the first time in 15 years.

According to the official website of China's Ministry of Agriculture and Rural Affairs, soybean imports are expected to fall 0.3 percent in 2018/19 to about 95.65 million metric tons, while the planting hectares of soybeans in China will be increased by 7.8 percent.

Meanwhile, rising U.S. ending stocks of corn and wheat in 2017/18 continued to drag down their prices.

As of 1450 GMT, July corn was down 5.5 cents at 3.965 U.S. dollars per bushel while July wheat was down 8.25 cents at 4.9825 dollars and July soybeans were down 16.75 cents at 10.045 dollars per bushel.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58May 27 2018 23:47:03

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16May 27 2018 23:47:03

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18May 27 2018 23:47:03

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords