CBOT soybeans nosedive on possible delay to Trump Xi summit

CHICAGO, March 16 (Reuters) - Chicago Board of Trade soybean futures fell to their daily limit on Monday as a potential delay in U.S. President Donald Trump's meeting with Chinese President Xi Jinping later in March dampened hopes of more U.S. soybean sales to China.

• Trump told the Financial Times in an interview on Sunday that he could delay his summit with China’s President Xi Jinping later this month as he presses Beijing to help unblock the Strait of Hormuz.

• Ahead of monthly crush data due on Monday from the National Oilseed Processors Association, analysts surveyed by Reuters on average expected the group to report that its members crushed 202.725 million bushels of soybeans in February, down 8.5% from January but up 14.0% from a year earlier.

• Brazil's 2025/26 soybean output is expected to reach a record 177.85 million metric tons, national crop agency Conab said on Friday, slightly trimming its February forecast of 177.98 million tons.

• CBOT May soybeans SK26 settled 70 cents lower at $11.55-1/4 per bushel after hitting the highest level for a most-active contract Sv1 since May 2024 last week. That was the biggest daily drop since 2023.

• CBOT May soyoil BOK26 ended down 3.5 cents to finish at 63.94 cents per pound.

• CBOT May soymeal SMK26 fell $10.50 to end at $312.20 per short ton.