Corn prices fall on China tariffs plans

Corn prices fell today after China announced a response to President Donald Trump's tariffs, which will start in September 1st.

The Chinese government announced its plan to impose a 10% tariff increase on US imports worth $75 billion, amid expectations of targeting imports of agricultural goods.

Which comes in response to Trump administration's decision to impose a 10% tariff on imports of Chinese goods worth $300 billion as of September 1.

Whilst, the US Treasury Department has announced the delay of tariffs on several Chinese imports until mid-December.

As of 14:08 GMT, dollar index stabilized at 98.1 points, with a high of 98.4 points and a low of 98.08.

By 14:08 GMT, corn prices fell by 1.2% to $366.5 dollars a bushel, with a high of $371.5 and a low of $365.5.