CBOT soybeans fall on tariff threats ahead of US holiday weekend
CHICAGO, May 23 (Reuters) - Chicago Board of Trade soybean futures slipped on Friday as U.S. President Donald Trump said on social media that he was recommending a 50% tariff on goods imported from the European Union.
CBOT July soybeans SN25 settled down 7-1/4 cents at $10.60-1/4 a bushel.
CBOT July soyoil BON25 ended 0.24 cent higher at 49.35 cents per pound.
CBOT July soymeal SMN25 fell $2.30 to finish at $296.20 per short ton.
U.S. President Donald Trump threatened on Friday to ratchet up his trade war once again, pushing for a 50% tariff on European Union goods starting June 1 and spooking investors ahead of the U.S. Memorial Day holiday weekend, analysts said.
Market players fear retaliatory tariffs on U.S. agricultural goods, pressuring futures.
An active storm track is expected to aid Midwest soy in the coming weeks, according to Commodity Weather Group.
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