World markets for grains and oilseeds

Soybean futures on the Chicago Mercantile Exchange fell on Tuesday after President-elect Donald Trump threatened tariffs on major trading partners. Good weather in soybean-growing regions of South America also weighed on prices, traders said. Trump, who takes office on Jan. 20, said Monday he would impose a 25% tariff on imports from Canada and Mexico and outlined an additional 10% tariff on imports from China. The decline in soybean prices was offset by a rise in soybean oil futures. Chicago soybean oil futures rose as tariffs raised the prospect of using more domestic soybean oil in biofuels, traders said. Wet weather is expected to ease concerns about a drought in the South American soybean crop. January soybean futures on the CBOT fell 2.5 cents to $9.83.5 a bushel. The most-active CBOT January soybean oil futures contract closed up 1.38 cents at $42.71 a pound. The most-active CBOT January soybean meal futures contract settled down $4.50 at $291.40 a short ton. Soybeans are ...