CBOT soybeans stumble on fears over tariff retaliation

CHICAGO, April 3 (Reuters) - Chicago Board of Trade soybean futures ended down on Thursday on concerns that new U.S. tariffs could trigger retaliatory measures that hurt American exports, analysts said.

• President Donald Trump on Wednesday announced a 10% baseline tariff on most imports to the U.S., with higher duties on dozens of trading partners including China and the European Union.

• China, the world's biggest soybean importer, already imposed duties on U.S. agricultural products last month in response to earlier Trump tariffs.

• Economists said the new tariffs could prove relatively advantageous for Brazil, which is the world's biggest soybean exporter and competes with the U.S. for sales to China.

• U.S. soybean export sales in the week ended on March 27 were 410,200 metric tons for 2024-25, within analysts' estimates for 250,000 to 800,000 tons.

• CBOT May soybeans SK25 closed 18 cents weaker at $10.11-1/2 a bushel.

• CBOT May soymeal SMK25 ended up $0.80 at $288 per short ton as the market rebounded after setting a contract low at $283.50 earlier in the session.

• CBOT May soyoil BOK25 fell 1.44 cents to finish at 47.06 cents per pound.