GRAINS-Soybeans rise after losses, US export uncertainty limits upside
SINGAPORE, Feb 24 (Reuters) - Soybeans inched higher on Tuesday as the market rose for the first time in three sessions on bargain-buying, although gains were curbed by uncertainty over U.S. exports following the Supreme Court decision to strike down President Donald Trump's tariffs.
Wheat and corn prices rose in early Asian trade.
FUNDAMENTALS
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 rose 0.1% to $11.51 a bushel, as of 0109 GMT. Wheat Wv1 added 0.3% to $5.75-3/4 a bushel, and corn Cv1 gained 0.1% at $4.40-1/2 a bushel.
The market is waiting to see whether importers of U.S. farm goods back away from U.S. trade deals following the Supreme Court's ruling or retaliate after Trump on Saturday raised a temporary duty to 15% on U.S. imports from all countries.
On Friday, Trump imposed a 10% temporary tariff after the Supreme Court struck down his previous tariff program. He also ordered the start of new investigations under other statutes that officials said could result in additional tariffs affecting many trading partners.
China's soybean futures DSAcv1 lost 0.7%, while corn DCCcv1 added 0.3% as the market reopened after a week-long Lunar New Year break.
Trump's trade dispute with China last year halted American soybean sales to the world's biggest importer. In late October, Washington and Beijing reached a trade truce that led to a restart of China's purchases.
In news, Brazilian farmers had harvested 30% of their 2025/26 soybean crop as of last Thursday, agribusiness consultancy AgRural said on Monday, up 9 percentage points from the previous week but below the 39% reported a year earlier. The pace is the slowest since 2020/21, it said.
MARKET NEWS
Global stocks were lower on Monday, dragged down by losses on Wall Street and in European equities as fresh uncertainty over U.S. trade policy erupted following President Donald Trump's new global tariff in the wake of a Supreme Court ruling. MKTS/GLOB
DATA/EVENTS (GMT)
0745 France Business Climate Mfg, Overall Feb
1500 US Consumer Confidence Feb
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