CBOT soybeans dip on profit-taking, tariff threats

Jan 30 (Reuters) - Chicago Board of Trade soybean futures edged down on Thursday as traders booked profits after the previous day's rally and ahead of the weekend, when U.S. President Donald Trump says he plans to impose tariffs on imports from Canada and Mexico, traders said.

• Soybeans hovered near a six-month high during the previous session as hot, dry weather in Argentina's soy belt rekindled supply concerns.

• Disappointing rainfall in Argentina, coupled with a dry outlook for the following weeks, is likely to continue supporting corn and soy futures.

• Brazilian farmers have begun harvesting and selling what is expected to be a bumper soy crop.

• Traders are waiting to see if Trump will follow through on threats to impose tariffs against Mexico and Canada, which would likely spark retaliation from two of the largest U.S. crop importers.

• The USDA reported weekly 2024-25 export sales of U.S. soybeans at 438,000 tons, below analysts' expectations for 450,000-1.7 million metric tons.

• CBOT March soybeans SH25 settled down 16-1/2 cents to $10.44 per bushel.

• CBOT March soymeal SMH25 ended down $5.1 at $304.7 per short ton, and March soyoil BOH25 rose 0.01 cent to 44.98 cents per pound.