CBOT soybeans sag as forecasts become more favorable

CHICAGO, July 21 (Reuters) - Chicago Board of Trade soybean futures fell Monday as forecasts for the U.S. Midwest show rains offsetting the impact of high temperatures on crops and traders continue to worry about the outcome of U.S. - China trade talks.

• The U.S. Midwest will see a brief burst of heat mid-week, but showers are expected to limit stress to the soy crop, said Commodity Weather Group.

• August is the key month for weather to influence the size of the autumn soybean harvest.

• Analysts on average expect the U.S. Department of Agriculture to rate 71% of the U.S. soybean crop in good-excellent condition, according to a Reuters poll of 10 analysts, which would be the highest rating since 2016 and up from 70% the previous week.

• An impending Aug. 1 deadline the U.S. has set to reach trade agreements or impose steep tariffs on imported goods is causing investors fears of retaliation against U.S. agricultural exports, according to analysts. GRA/

• CBOT November soybeans SX25 ended down 9-3/4 cents at $10.26 a bushel.

• CBOT August soyoil BOQ25 rose 1/4 cent at $56.07 cents per pound.

• CBOT August soymeal SMQ25 fell $3.50 to close at $270-1/2 per short ton.