Chicago Board of Trade soyabean futures closed lower on Tuesday as traders shed risk and awaited news from US-China trade talks planned for this week in Washington, traders said. CBOT March soyabeans settled down 4-1/4 cents at $9.19 per bushel but stayed inside of Monday's trading range. CBOT March soyameal ended down 40 cents at $311.80 per short ton and March soyaoil fell 0.19 cent at 30.11 cents per pound.
Uncertainty about prospects for progress in this week's US-China trade talks hung over the market. Tensions were high after US officials announced criminal charges against China's telecom giant Huawei for violating US sanctions against Iran.
Additional pressure noted from forecasts for improving South American crop weather, including beneficial rains next week in Brazil and a welcome drier pattern in Argentina. The European Commission said it had concluded that US soyabeans can be used in biofuels in the European Union, part of the bloc's push to improve strained trade relations with the United States.
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