Soybean oil and wheat lead overnight weakness for Turn-around Tuesday.

Grain trade softer; China tariffs, Argentine rain, US-China talks, and cattle market losses dominate headlines.

This morning's grain trade is mostly softer as soybean oil fell the sharp losses overnight on the Canadian canola oil that will continue to flow to the US without a tariff for the next 30 days. That put pressure on soybeans, while China did follow through by placing a 15% levy on $5 billion of US energy imports and a 10% duty on American oil and agricul…