CBOT soybeans steady after plunging in previous session

CHICAGO, May 16 (Reuters) - Chicago Board of Trade soybean futures steadied on Friday after tumbling on Thursday as sliding soyoil futures pulled the soy complex lower.

• Soyoil futures continued to grind lower on Friday after plunging to their daily limit in the previous session as uncertainty over a U.S. biodiesel mandate hung over the market.

• Soybeans had reached their highest price since late July on Wednesday, buoyed by this week's de-escalation in the U.S.-China tariff stand-off, before dropping 2.5% on Thursday.

• The biofuel sector is still awaiting clarification after the U.S. Environmental Protection Agency said on Thursday that it had sent its proposal on future biofuel blending mandates to the White House for review.

• Beneficial planting and growing conditions for the U.S. soy crop have also weighed on soybean futures.

• CBOT July soybeans SN25 finished 1-1/4 cents lower to $10.50 per bushel.

• CBOT July soyoil BON25 fell 0.39 cent to 48.93 cents per pound. CBOT July soymeal SMN25 fell $4.5 to $291.90 per short ton.