CBOT soybeans bounce back on technical trading

CHICAGO, April 22 (Reuters) - Chicago Board of Trade soybean futures bounced back on Tuesday on a technical recovery following a wider market selloff the day before, triggered by U.S. President Donald Trump bashing Federal Reserve Chair Jerome Powell over interest rates.

• CBOT July soybeans SN25 settled up 4-1/2 cents at $10.46 per bushel.

• CBOT July soymeal SMN25 ended down $0.80 at $299.50 per short ton.

• CBOT July soyoil BON25 finished down 0.28 cent at 48.03 cents per pound.

• Soybeans rebounded on technical trading. On Monday they had followed outside markets lower 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.

• Analysts said reports that U.S. Treasury Secretary Scott Bessent told people at a private meeting that the U.S. trade war with China would not last also gave soybean futures a boost.

• Rains across the U.S. Midwest stalled planting progress early this week. The USDA said in its weekly crop progress report on Monday that 8% of the soybean crop was planted as of Sunday, above the average analyst estimate for 7% complete.