CBOT soybeans dip on trader positioning, China denial of US tariff talks

CHICAGO, April 25 (Reuters) - Chicago Board of Trade soybean futures fell Friday as traders exited the market on positioning and with China denying U.S. President Donald Trump's assertion that tariff negotiations were ongoing with the leading soybean importer.

• CBOT July soybeans SN25 settled down 2-3/4 cents at $10.59-1/4 per bushel.

• CBOT July soyoil BON25 fell 0.26 cent to finish at 49.81 cents per pound.

• But CBOT July soymeal SMN25 ended up $1.80 at $298.50 per short ton.

• Traders were positioning ahead of the weekend, exiting the market as uncertainty builds over trade tensions between the U.S. and China, according to analysts.

• Trump asserted in an interview published Friday that tariff negotiations were under way with China, but Beijing denied any talks were taking place, the latest in a series of conflicting signals over what progress was being made to de-escalate a trade war threatening global growth.

• China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses that have been notified. But U.S. soy has not been mentioned so far in Chinese tariff exemptions.

• Wet conditions were seen slowing spring planting next week in the southern Midwest and Delta next week, but more favorable planting weather is expected across most of the Midwest in the 11 to 15 day window, forecasters said.