CBOT soy ends stronger as China monitors US tariff policy

CHICAGO, Feb 24 (Reuters) - Chicago Board of Trade soybean futures ended higher on Tuesday as concerns temporarily eased about the risk for U.S. tariff upheaval to harm potential crop sales to top importer China, analysts said.

• China is closely monitoring U.S. policies and will decide "in due course" whether to adjust countermeasures to U.S. tariffs, a Chinese commerce ministry official said after U.S. President Donald Trump said he would levy a new temporary tariff of 15% on U.S. imports from all countries.

• China is willing to hold frank consultations during an upcoming sixth round of U.S.-China economic and trade talks, the commerce ministry official added.

• The United States began collecting a temporary new 10% global import tariff, but the Trump administration was working to increase it to 15%, a White House official said.

• Analysts had previously said China, the world's biggest soybean importer, may be less likely to extend purchases of U.S. supplies following the Supreme Court's decision on Friday to strike down Trump's sweeping import tariff program.

• CBOT March soybeans SH26 rose 5-1/4 cents to end at $11.39-1/2 per bushel. May soybeans SK26 finished up 5-1/2 cents at $11.55-1/4 per bushel after rising on Monday to the highest level since November 19.

• CBOT March soyoil BOH26 ended 0.64 cent stronger at 60.03 cents per pound and set a contract high at 60.18 cents.

• CBOT March soymeal SMH26 ended $2 higher at $310.70 per short ton.