Markets

CBOT soybeans close lower on trade war concerns

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* 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.

Copyright Reuters, 2018