CHICAGO: Chicago Board of Trade soybean futures fell to life-of-contract lows on Tuesday and the most actively traded contract hit its lowest in a decade as an escalating US-China trade war darkened US export prospects, traders said.
* CBOT November soybeans settled down 9-1/2 cents at $8.14 per bushel after falling to $8.12-1/4, a contract low and the lowest for a most-active soy contract since December 2008.
* CBOT December soymeal ended down $2.40 at $303.30 per short ton and December soyoil fell 0.33 cent at 27.37 cents per pound.
* Soybeans sagged after top global soy buyer Beijing added $60 billion of US products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods.
* The tit-for-tat measures are the latest escalation in an increasingly protracted trade dispute between the world's two largest economies.
* The US Department of Agriculture late Monday said the US soybean harvest was 6 percent complete, ahead of the five-year average of 3 percent.
* Soybean planting in Brazil's Paran? state, the country's number 2 soy producer, reached 9 percent of the expected area this week compared to only 1 percent at this time last year.
* Private analytics firm Informa Economics projected that US soybean plantings would fall to 82.27 million acres in 2019, trade sources said, compared to the USDA's 2018 figure of 89.6 million acres.
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