CBOT soybeans firm on hopes for trade deal

CHICAGO, Oct 13 (Reuters) - Chicago Board of Trade soybean futures steadied on Monday as comments from U.S. President Donald Trump and Treasury Secretary Scott Bessent calmed markets after trade tensions between the U.S. and China had triggered a sharp decline in the previous session, analysts said.

• CBOT November soybeans SX25 settled 1 cent higher to $10.07-3/4 per bushel.

• CBOT December soymeal SMZ25 was 90 cents lower at $274.10 per short ton while December soyoil BOZ25 rose 0.63 cents to end at 50.60 cents per pound.

• China, usually a huge buyer of U.S. soybeans, has stopped U.S. purchases.

• The latest rupture followed China's announcement on Thursday that it would dramatically expand its rare earths export controls driven by concern over the military applications of these elements at a time of "frequent military conflicts."

• That drew a sharp countermeasure from Trump on Friday that sent markets and relations between the world's two largest economies into a spiral.

• Trump posted on social media over the weekend that the U.S. did not want to "hurt" China, and in an interview with Fox Business Network Bessent said there were substantial communications between the two sides over the weekend and more meetings were expected.