U.S. soybean futures edged lower on Monday as market sentiment soured after President Trump threatened to escalate the trade war between Washington and Beijing, potentially affecting global oilseed trading.
Reuters reports that Trump warned he has tariffs ready to go on $267 billion worth of Chinese imports in addition to the $200 billion of its goods already facing the risk of duties.
Tariffs would cover $467 billion in Chinese imports on top of the $50 billion already in place.
China imported 9.15 million tonnes of soybeans in August, up 14% from July, customs data showed on Saturday, as buyers in the world's top importer continued to buy from Brazil after Beijing imposed tariffs on U.S. shipments.
The U.S. Agriculture Department on Friday morning said weekly export sales of wheat were 379,800 tonnes, in line with market forecasts but down from a week ago.
