CANBERRA, July 14 (Reuters) - Chicago soybean futures
fell on Monday below $10 a bushel for the first time in three
months, as favourable weather bolstered expectations for a large
U.S. harvest and a rise in inventories.
Corn and wheat futures also moved lower, with markets
rattled by an increase in tariff threats by U.S. President
Donald Trump.
FUNDAMENTALS
* The most active soybean contract on the Chicago Board of
Trade (CBOT) was down 0.3% at $10.04-1/2 a bushel, as of
0126 GMT, after dipping to $9.98-1/4, its lowest since April 9.
* CBOT corn was down 0.7% at $4.09-1/4 a bushel and
wheat was 0.3% lower at $5.43-1/4 a bushel.
* The U.S. Department of Agriculture (USDA) on Friday
projected U.S. ending stocks for 2025-26 at 310 million bushels,
up from its previous estimate of 295 million bushels and above
analyst expectations for 302 million bushels.
* The USDA trimmed the outlook for U.S. soybean production
to 4.335 billion bushels from 4.340 billion bushels, but traders
think yields will rise if weather conditions remain favourable.
* A large U.S. harvest would follow a bumper crop in rival
exporter Brazil.
* Consultants Safras & Mercado predicted that Brazil would
plant a larger area with soybeans in September, leading to
record production in the 2025/26 season.
* Supporting soybeans is increased use of soyoil to make
biofuel. The USDA said fuel makers would consume more than half
of all soybean oil produced in the United States next year as
federal policy transforms the sector.
* Speculators are however betting that CBOT soybean prices
will fall.
* In other crops, France's wheat and barley harvests remain
well ahead of their usual pace, while maize crop conditions have
declined again after a sweltering start to summer, farm office
FranceAgriMer said.
* Russia's wheat export tax will remain zero for a second
consecutive week, the Agriculture Ministry said, which should
stimulate exports.
MARKETS NEWS
* Losses in Wall Street futures dragged Asian stocks lower
on Monday as the latest round of threats in the U.S. tariff wars
kept investors on edge, though the fallout was limited by hopes
this was mainly bluster by President Donald Trump.