CHICAGO: Chicago Board of Trade soybean futures closed lower on Monday, pressured by the expansion of the US harvest of a likely record-large crop and worries about trade tensions with China, the world's top soy buyer, traders said.
* CBOT November soybeans settled down 7 cents at $8.23-1/2 per bushel but held just above a contract low set last week at $8.21-1/4.
* CBOT December soymeal ended down $3 at $305.70 per short ton and December soyoil fell 0.06 cent at 27.70 cents per pound.
* Traders awaited news on an expected new round of tariffs from Washington on Chinese goods, which would escalate a simmering US-Sino trade dispute. US President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday, and China said it would retaliate.
* The US Department of Agriculture reported export inspections of US soybeans in the latest week at 784,752 tonnes, in line with trade expectations for 700,000 to 1,000,000 tonnes.
* Ahead of the USDA's weekly crop progress report due later on Monday, analysts on average expected the government to report the US soybean harvest as 5 percent complete.
* The National Oilseed Processors Association said its members crushed 158.885 million bushels of soybeans in August, a figure that fell below a range of trade expectations but nonetheless represented the largest August total on record.
* NOPA said soyoil stocks fell to 1.623 billion pounds by the end of August, from 1.764 billion a month earlier. Analysts, on average, had forecast a very slight decline in soyoil stocks to 1.762 billion pounds.
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