CBOT soybeans end lower as US weather outlooks improve

CHICAGO, July 29 (Reuters) - Soybean futures on the Chicago Board of Trade fell on Tuesday as forecasts for cooler Midwest temperatures this week and continued periodic rains reinforced expectations of a big U.S. harvest, traders said.

• CBOT August soybeans SQ25 settled down 7 cents at $9.81-3/4 per bushel and the most-active November contract SX25 ended down 2 cents at $10.09-1/2 a bushel.

• The August soybean contract SQ25 was pressured by traders liquidating positions ahead of first notice day for deliveries on Thursday and as market players gained confidence that supplies from the 2024 soybean harvest would last until the 2025 harvest begins this autumn.

• CBOT soymeal futures set contract lows across the board, pressured by ample U.S. supplies of the feed ingredient. Most-active CBOT December soymeal SMZ25 ended down $2.80 at $276.50 per short ton after setting a contract low at $276.00.

• But CBOT soyoil futures rose, with several months setting contract highs. Benchmark December soyoil BOZ25 settled up 0.79 cent at 56.78 cents per pound.

• The U.S. Department of Agriculture late Monday rated 70% of the U.S. soybean crop in good to excellent condition, up from 68% last week, bucking trade expectations for a decline.

• China's appetite for soybeans is likely to weaken during the peak U.S. marketing season later this year as record imports earlier in 2025 and tepid demand from animal feed producers have pushed up soymeal inventories at home, trade sources said.

• Indian importers bought a record 150,000 metric tons of soyoil from China in rare purchases, as a supply glut prompted Chinese crushers to sell at a discount to India's traditional suppliers from South America, four trade sources said.