CBOT soybeans firm as Trump backs off EU tariff threats
CHICAGO, May 27 (Reuters) - Chicago Board of Trade soybean futures rose on Tuesday as U.S. President Donald retreated from tariff threats on goods imported from the European Union.
CBOT July soybeans SN25 settled up 2-1/4 cents at $10.62-1/2 a bushel.
CBOT July soyoil BON25 ended 0.22 cent higher at 49.57 cents per pound.
CBOT July soymeal SMN25 rose $0.10 to finish at $296.30 per short ton.
Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal.
Agribusiness consultancy Datagro increased its forecasts for Brazil's 2024/25 soybean crops. The soybean crop is now expected to hit 172 million metric tons, up from a previous forecast of 171.2 million tons, due to an increase in planted area and improvement in average yields, Datagro said.
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