CBOT soybeans touch April low on favorable US crop weather

CHICAGO, July 30 (Reuters) - Chicago Board of Trade soybean futures ended lower on Wednesday on forecasts for crop weather to remain favorable in the U.S. Midwest, traders said.

• Beneficial weather conditions have fueled expectations for a large U.S. harvest at a time when U.S. exports have struggled amid competition for global sales from Brazil.

• 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.

• China, the world's biggest soy importer, and the United States on Tuesday agreed to seek an extension of their 90-day truce to the tariff dispute that has hurt American farm exports.

• On Thursday, the U.S. Department of Agriculture is expected to report weekly U.S. soybean export sales of 100,000 to 300,000 metric tons for 2024-25 and of 100,000 to 600,000 metric tons for 2025-26, analysts said.

• CBOT November soybeans SX25 ended down 13-3/4 cents at $9.95-3/4 a bushel and set their lowest price since April 10.

• CBOT soymeal futures set contract lows due to ample U.S. supplies of the feed ingredient. Most-active CBOT December soymeal SMZ25 ended down $2 at $274.50 per short ton after setting a contract low at $273.40.

• CBOT soyoil futures turned lower after setting contract highs. Benchmark December soyoil BOZ25 ended down 0.67 cent at 56.11 cents per pound.