CBOT soybeans ease on favorable weather, biofuel policy uncertainty

CHICAGO, May 30 (Reuters) - Chicago Board of Trade soybean futures slid on Friday on beneficial weather in the central U.S. and uncertainty around U.S. biofuel policy, analysts said.

• CBOT July soybeans SN25 settled down 10 cents at $10.41-3/4 a bushel.

• CBOT July soyoil BON25 ended 1.50 cents lower at 46.89 cents per pound.

• CBOT July soymeal SMN25 fell $0.10 to finish at $296.40 per short ton.

• For the week, July soybeans SN25 fell 1.74%.

• Relatively dry weather across the Midwest has recently favored remaining soybean and corn planting, while rains in the coming weeks will improve soil moisture for germination and early crop growth, according to weather forecaster Vaisala.

• The U.S. Department of Agriculture reported weekly export sales of soybeans in the current marketing year at 146,000 metric tons, below a range of trade expectations.

• A Reuters poll of analysts estimated that the U.S. Department of Agriculture would report export sales for the week ended May 22 at 150,000-500,000 metric tons. USDA/EST

• The soybean market assessed a Reuters report that the White House is considering a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws.