CBOT soybeans sag as traders fear tariff impacts

Chicago Board of Trade soybean futures closed down on Friday as market players worried about the impact of possible new U.S. tariffs on imports from Mexico, Canada and China, set to begin on March 4.

CBOT May soybeans (SK25) settled down 11-1/2 cents at $10.25-3/4 per bushel.

CBOT May soymeal (SMK25) was unchanged at $300.20 per short ton while May soyoil (BOK25) fell 1.23 cents to finish at 44.12 cents per pound.

Market players fear possible retaliation against U.S. agricultural exports if tariffs are implemented on March 4 as threatened by President Donald Trump in a Thursday social media post.

Retaliation by China is a particular fear, as the country is the world’s largest soybean importer.

Traders were also engaged in year-end positioning, according to analysts.
Source: Reuters