CBOT soybeans dip on Trump's Federal Reserve tirade

CHICAGO, April 21 (Reuters) - Chicago Board of Trade soybean futures dropped Monday as U.S. President Donald Trump bashed U.S. Federal Reserve Chair Jerome Powell over interest rates, triggering a wider market sell-off.

• CBOT July soybeans SN25 settled down 6-1/4 cents to $10.41-1/2 per bushel.

• CBOT July soymeal SMN25 ended down $2.8 to $300.3 per short ton.

• CBOT July soyoil BON25 finished down 0.03 cent to 48.31 cents per pound.

• Soybeans followed outside markets to losses as Trump ramped up his attacks on Powell, prompting investors to worry about the central bank's independence. Trump called Powell a "major loser" and warned that an economic downturn could result if interest rates are not lowered immediately.

• Powell has said more data is necessary on the inflationary impact of Trump's tariff policies.

• Wet weather is expected to delay early soybean planting in the U.S. Plains, northwestern Midwest and the Delta, according to forecaster Vaisala.

• The U.S. Department of Agriculture is slated to issue a weekly update on planting progress on Monday at 3 p.m. CDT (2000 GMT).