CHICAGO, May 29 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities settled lower on Tuesday, with a broad-based sell-off occurring amid U.S.-China trade tensions.
China's Ministry of Commerce said Tuesday that the U.S. trade statement is contrary to the consensus the two sides previously reached in Washington.
"Whatever measures the United States takes, China has the confidence, capability and experience to defend the interests of Chinese people and the core interests of the country," the ministry said.
A stronger dollar also exerted pressure on U.S. agricultural products, making U.S. grains less competitive on the world market.
The most active corn contract for July delivery dropped 6 cents, or 1.48 percent to close at 4 dollars per bushel. July wheat delivery fell 6.5 cent, or 1.2 percent, to close at 5.365 dollars per bushel. July soybean delivery went down 11 cents, or 1.06 percent, to close at 10.305 dollars per bushel.
According to a report released by the U.S. Department of Agriculture on Tuesday, U.S. private traders exported 67.1 million bushels of corn, 21,2 million bushels of soybeans, and 15.8 million bushels of wheat for the week ending May 23.
