CBOT soyabean futures fall

Chicago Board of Trade soyabean futures fell to within a few cents of contract lows on Monday on concerns that a worsening trade fight with top importer China could slow exports and balloon US stocks of the oilseed, traders said. CBOT August soyabeans ended down 10 cents at $8.53-1/2 a bushel, while new-crop November fell 10-1/2 cents to $8.69-1/2 a bushel.
Active fund selling on the first trading day of the new month and new quarter pressured futures. There was little sign of a negotiated settlement of trade tensions between the United States and China. Beijing says it will impose an extra 25 percent import duty on more than 500 US goods, including soyabeans, on July 6 in retaliation for US tariffs on Chinese goods. Expectations for a large US crop yields this year added pressure to prices, following ample rains in the US Midwest farm belt.