SINGAPORE- Chicago soybean futures slid for a second session on Monday as rising US-China tensions are likely to derail North American bean exports to the world’s biggest importer of the oilseed.
Wheat lost ground after climbing in the last session on the back of a weaker US dollar.
“China booked a lot of beans from the United Sates, so I don’t think those shipments are under threat of getting rejected,” said one Singapore-based trader at an international trading company that has oilseed processing facilities in China.
“But worsening relations between the two countries certainly put the future deals in question.”
The most-active soybean contract on the Chicago Board of Trade (CBOT) lost 0.2 percent to $8.97-1/2 a bushel. Wheat Wv1 fell 0.7 percent to $5.35-3/4 a bushel and corn Cv1 slid 0.3 percent to $3.34 a bushel.