CHICAGO: Chicago Board of Trade soyabean futures settled fractionally lower on Monday after a choppy session, as brokers weighed pressure from rising US-China trade tensions against news of fresh US soya sales to the Asian country, traders said.
CBOT July soyabeans settled down 1/4 cent at $8.40-1/2 per bushel. CBOT July soyameal ended down 10 cents at $283.10 per short ton, while July soyaoil rose 0.22 cent to 27.60 cents per pound.
Chinese state-owned firms bought at least three cargoes of US soyabeans on Monday, or at least 180,000 tonnes, from US Pacific Northwest ports, three US traders familiar with the deals said.
News of the purchases followed headlines overnight that China told state-owned firms to halt purchases of US soyabeans and pork after Washington said it would eliminate special treatment for Hong Kong.
The US Department of Agriculture (USDA) reported export inspections of US soyabeans in the latest week at 396,387 tonnes, near the low end of trade expectations for 350,000 to 600,000 tonnes.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to report the US soyabean crop as 79% planted, up from 65% a week earlier.