China's soyameal futures falls

China's soyameal futures fell in early trade on Monday to their lowest in three months, as trade tension eased between the world's top two economies over the weekend. The most-active soyameal contract traded on the Dalian Commodity Exchange, for December delivery, slid 0.6 percent to 2,942 yuan ($461.03) per tonne, its lowest level in three months.
China's soyabean futures also dropped to a three month-low, after China on Saturday said it would import more agricultural commodities from the United States. The most active soyabean contract on the Dalian Commodity Exchange for September delivery fell 0.5 percent, to 3,661 yuan per tonne.
"As the trade spat eases, the cost of importing US beans will go down," said Tian Hao, senior analyst with First Futures. US Treasury Secretary Steven Mnuchin said on Sunday that the US trade war with China is "on hold", after the world's largest economies agreed to drop their tariff threats while they work on a wider trade agreement.