Beijing, – Chicago soybean futures fell on Monday after hitting a near two-year high last week, as oil prices slipped and the market grappled with further disruptions from the Iran crisis.
* The most-active soybean contract on the Chicago Board of Trade fell 2% to $12 -3/4 a bushel as of 0242 GMT on Monday. Soyoil fell 1.1% to $66.69 cents per pound.
* Wheat lost 1.1% to $6.07 a bushel and corn fell 1% to $4.64 a bushel.
* Oil prices slipped on Monday, paring early gains after U.S. President Donald Trump called on other countries to help safeguard the Strait of Hormuz, a vital artery for global oil and gas shipments. Soy oil price, which affects soybean costs, usually tracks oil prices. * But the market also grapples with potential positive news. U.S. and Chinese economic officials held “remarkably stable” talks in Paris on Sunday agriculture trade issues before U.S. President Donald Trump and Chinese President Xi Jinping meet in Beijing later this month.
* China was still committed to buy 25 million metric tons of American soybeans for each of the next three years under the October 2025 U.S and China trade truce.
* The Chinese side showed openness to potential additional purchases of U.S. poultry, beef, and non-soybean row crops. * In South America, offers to sell Brazilian soybeans to China have dried up due to tighter phytosanitary checks and higher freight rates, traders said.
* Tighter quality checks during Brazil’s peak export season could hit supplies in China, though the market is well-stocked following last year’s record purchases.
* Asian markets were in a wary mood on Monday as hostilities in the Gulf kept oil prices elevated, complicating an inflation outlook that should keep most central banks on pause at policy meetings this week, barring one possible hike.
1315 US Industrial Production MM Feb
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