CBOT soybeans up ahead of US-China trade talks

CHICAGO, May 8 (Reuters) - Chicago Board of Trade soybeans crept higher on Thursday, buoyed by higher soyoil futures and hopes that upcoming U.S.-China trade talks in Switzerland could reduce trade tensions that have disrupted U.S. grain and oilseeds exports, analysts said.

• Market players have been hesitant to make big moves ahead of the trade talks this weekend, which could calm the trade war that has effectively halted U.S. soybean and grain exports to China.

• Traders are also positioning ahead of Monday's U.S. Department of Agriculture's monthly supply and demand report.

• The USDA said exporters sold a net 376,700 tons of old-crop U.S. soybeans last week along with 9,800 tons of new-crop soy, in line with trade estimates. EXP/SOY

• Net U.S. soymeal export sales last week fell to the lowest point in five weeks, USDA data showed. EXP/MEAL

• Canadian soybean stocks as of March 31 rose 10.9% from a year earlier to 2.4 million metric tons, while canola stocks fell 38.7% to 5.9 million tons, according to Statistics Canada.

• CBOT July soybeans SN25 rose 5-3/4 cents to $10.45 per bushel.

• CBOT July soyoil BON25 rose 1.12 cents to 48.45 cents per pound, and July soymeal SMN25 fell 30 cents to $294.70 per short ton.