CBOT soybeans end down as cash weakness fuels demand worries

CHICAGO, June 12 (Reuters) - Chicago Board of Trade soybean futures fell to one-week lows on Thursday as collapsing domestic cash markets, poor weekly export sales and worries about the size of U.S. biofuel mandates raised fears about demand for the oilseed, brokers said.

• CBOT July soybeans SN25 settled down 8-1/4 cents at $10.42-1/4 per bushel while new-crop November beans SX25 ended down 2 cents at $10.27-1/4.

• CBOT July soyoil BON25 ended down 0.41 cent at 47.61 cents per pound while July soymeal SMN25 rose 30 cents to finish at $294.50 per short ton.

• The biggest declines in CBOT soybean futures were in the spot July SN25 contract, reflecting weakening cash markets after several domestic soy processors sharply lowered their bids to buy old-crop soybeans. GRA/M

• Soyoil futures fell on uncertainty about demand for soy biodiesel. The U.S. Environmental Protection Agency on Friday will propose new biofuel blending requirements for oil refiners that will likely include a lower biomass-based diesel mandate than industry groups had requested, four sources told Reuters.

• Poor weekly export sales added pressure. The U.S. Department of Agriculture reported export sales of U.S. old-crop soybeans in the week ended June 5 at 61,400 metric tons, a marketing-year low that fell below trade expectations for 100,000 to 400,000 tons. Sales of new-crop soybeans for the week totaled 58,100 tons, toward the low end of expectations. EXP/SOY

• In monthly supply-demand reports, the USDA left its forecasts of U.S. old- and new-crop soybean inventories unchanged from last month, as analysts expected. The USDA also made no changes to its estimates of the 2024/25 and 2025/26 soybean crops in Brazil and Argentina.

• Brazilian crop agency Conab raised its estimate of the country's 2024/25 soybean harvest to 169.60 million metric tons, from its previous estimate of 168.34 million tons.

• The Buenos Aires Grains Exchange raised its forecast of Argentina's 2024/25 soybean harvest to 50.3 million metric tons, up from 50.0 million tons previously, the exchange said in a report.