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CBOT soybeans end unchanged amid tariff worries

ReutersFeb 10, 2025 7:47 PM

- Chicago Board of Trade soybean futures ended unchanged on Monday, though prices were pressured most of the day after U.S. President Donald Trump said he will impose punitive tariffs on aluminum and steel imports, raising concern over potential retaliation against U.S. grain and oilseed exports.

  • CBOT March soybeans SH25 settled flat at $10.49-1/2 per bushel.

  • CBOT March soymeal SMH25 ended down 90 cents to $300.50 per short ton, and March soyoil BOH25 fell 0.25 cent to 45.73 cents per pound.

  • Trump said he would order 25% tariffs on all steel and aluminum imports.

  • The new tariffs would mark another escalation of his shakeup of trade policy and mounting risks of a multi-front trade war.

  • In South America, improving weather in dry growing areas of Argentina, the top exporter of soymeal and soyoil, and a larger-than-expected soybean harvest in leading supplier Brazil, pressured soy prices.

  • Showers forecast in Argentina this week may offer relief for corn and soy crops struggling with dry conditions.

  • Analysts expect the USDA to cut U.S. soybean ending stocks to 374 million bushels from 380 million bushels.

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