Global grain and oilseed markets

Soybean futures on the Chicago Mercantile Exchange fell sharply on Friday amid trade restrictions announced by China and the toughening rhetoric of U.S. President Donald Trump, which cooled hopes for a resolution to the standoff with Washington that had suspended soybean shipments. November soybean futures on the CBOT fell by 15.5 cents to $10.06 3/4 per bushel. On the CBOT, December soybean meal futures fell by $1.90 to $275 per short ton, and December soybean oil futures fell by 0.97 cents to 49.97 cents per pound. "There are concerns about the future development of trade negotiations," said Don Roose, president of US Commodities. The soybean market is experiencing difficulties due to the lack of Chinese purchases of the new U.S. crop amid the large-scale trade war between the two countries. China's expansion of export controls on rare earth metals on Thursday, followed by the announcement on Friday of retaliatory port charges for U.S.-owned or operated vessels, weakened ...