CHICAGO, July 9 (Xinhua)-- Chicago Board of Trade (CBOT) agricultural commodities traded lower on Monday morning, as investors turned to technical selling amid ongoing China-U.S. trade frictions.
July corn was 8.5 cents lower at 3.645 U.S. dollars per bushel as of 1540 GMT, September wheat was 8.5 cents lower at 5.0675 dollars, and November soybean was down 19.5 cents at 8.75 dollars.
Investors were widely worried about the impact of trade frictions between the world's top two economies after the United States began imposing a 25-percent additional tariff on Chinese products worth 34 billion U.S. dollars on Friday.
Accordingly, China canceled purchases of U.S. soybeans for delivery in the 2017-2018 and 2018-2019 marketing years, the U.S. Department of Agriculture said in a report on Friday.
As for weather forecast for agricultural crop, the conditions look ideal across much of the corn belt today, though some flooding remains a problem along the Missouri River in Nebraska and Iowa.
Hot weather also may become an issue later this week with heat indexes creeping as high as 105 degrees Fahrenheit (40.6 degrees Celsius), the National Weather Service said in a report early Monday morning.