GRAINS-Ample supply pushes soybeans below $10 a bushel
CANBERRA, July 14 (Reuters) - Chicago soybean futures fell on Monday below $10 a bushel for the first time in three months, as favourable weather bolstered expectations for a large U.S. harvest and a rise in inventories.
Corn and wheat futures also moved lower, with markets rattled by an increase in tariff threats by U.S. President Donald Trump.
FUNDAMENTALS
* The most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was down 0.3% at $10.04-1/2 a bushel, as of 0126 GMT, after dipping to $9.98-1/4, its lowest since April 9.
* CBOT corn Cv1 was down 0.7% at $4.09-1/4 a bushel and wheat Wv1 was 0.3% lower at $5.43-1/4 a bushel.
* The U.S. Department of Agriculture (USDA) on Friday projected U.S. ending stocks for 2025-26 at 310 million bushels, up from its previous estimate of 295 million bushels and above analyst expectations for 302 million bushels.
* The USDA trimmed the outlook for U.S. soybean production to 4.335 billion bushels from 4.340 billion bushels, but traders think yields will rise if weather conditions remain favourable.
* A large U.S. harvest would follow a bumper crop in rival exporter Brazil.
* Consultants Safras & Mercado predicted that Brazil would plant a larger area with soybeans in September, leading to record production in the 2025/26 season.
* Supporting soybeans is increased use of soyoil to make biofuel. The USDA said fuel makers would consume more than half of all soybean oil produced in the United States next year as federal policy transforms the sector.
* Speculators are however betting that CBOT soybean prices will fall.
* In other crops, France's wheat and barley harvests remain well ahead of their usual pace, while maize crop conditions have declined again after a sweltering start to summer, farm office FranceAgriMer said.
* Russia's wheat export tax will remain zero for a second consecutive week, the Agriculture Ministry said, which should stimulate exports.
MARKETS NEWS
* Losses in Wall Street futures dragged Asian stocks lower on Monday as the latest round of threats in the U.S. tariff wars kept investors on edge, though the fallout was limited by hopes this was mainly bluster by President Donald Trump. MKTS/GLOB
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