CHICAGO: US soybean futures fell on Thursday on concerns over a tariff fight with China, traders said.
* US President Donald Trump said on Thursday that the United States was under no pressure to make a trade deal with China, even as Chinese officials welcomed an invitation from Washington for a new round of talks with more US tariffs looming.
* Soymeal and soyoil futures also fell, with weakness in the crude oil market adding further pressure to the soy complex.
* Traders also were focused on the upcoming harvest of what is expected to be a record US crop.
* USDA said soybean export sales totaled 693,400 tonnes, in line with forecasts of 500,000 to 1 million tonnes.
* The benchmark Chicago Board of Trade November soybean futures contract failed to hold support above its 10-day moving average after early strength pushed it above that key technical point.
Comments
Comments are closed for this article.