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Chicago soybeans bounce back from fall on tariff news

ReutersApr 8, 2025 7:25 PM

- Chicago Board of Trade soybean futures rebounded on technical trading on Tuesday, a day after falling to four-month lows on news of tariffs and tariff retaliation, analysts said.

  • CBOT May soybeans SK25 rose 9-3/4 cents to end at $9.92-3/4 a bushel.

  • CBOT May soymeal SMK25 settled up $2.60 at $291.00 per short ton.

  • CBOT May soyoil BOK25 finished down 0.21 cents at 44.94 cents per pound.

  • After the U.S. imposed a swath of "reciprocal tariffs" last week, China imposed its own 34% tariffs on U.S. goods.

  • When China had not withdrawn those tariffs on Tuesday, U.S. President Donald Trump followed up with the threat of 104% duties on imports from China set to take effect shortly after midnight.

  • In a Reuters poll, analysts estimated that the U.S. Department of Agriculture would report on Thursday that U.S. soybean ending stocks are at 0.320-0.405 billion bushels.

  • Analysts estimated global soybean ending stocks would be in the range of 121.00-123.00 million metric tons.

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