CBOT corn eases on Trump tariff news
CHICAGO, May 23 (Reuters) - Chicago Board of Trade's most-active July corn futures contract ended lower on Friday after U.S. President Donald Trump said that he was recommending 50% tariffs on imported goods from the European Union.
CBOT July corn CN25 settled down 3-1/2 cents at $4.59-1/2 a bushel.
Trump threatened on Friday to ratchet up his trade war once again, pushing for the higher European tariff starting June 1. Investors worried the EU might retaliate against U.S. agricultural goods, prompting many to exit their positions ahead of the long Memorial Day weekend in the U.S.
The International Grains Council raised its forecast for 2025/26 global corn production by 3 million metric tons to 1.277 billion tons.
An active storm track is expected to aid Midwest corn in the coming weeks, according to Commodity Weather Group.
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