CBOT soybeans slump to multi-month lows on low Chinese demand, big global crop

CHICAGO, July 31 (Reuters) - Chicago Board of Trade soybean futures fell on Thursday to their lowest level since April, as beneficial U.S. crop weather, a bounty of global supplies, and sluggish demand from China have kept prices slumping, analysts said.

• CBOT soymeal futures also set contract lows earlier in the session, as ample U.S. supplies continue to weigh on prices.

• The losses were the latest blows to U.S. farmers who have struggled with low crop prices and U.S. President Donald Trump's tariff disputes.

• CBOT November soybeans SX25 ended down 6-1/2 cents at $9.89-1/4 a bushel and at one point dipped to their lowest price since April 9.

• Most-active CBOT December soymeal SMZ25 ended up $1.50 at $276.00 per short ton, after earlier dipping to a contract low at $272.60 per short ton.

• CBOT soyoil futures turned lower. Benchmark December soyoil BOZ25 ended down 1.37 cents at 54.74 cents per pound.

• The U.S. Department of Agriculture reported that weekly net soybean export sales hit 349,164 metric tons for the 2024-2025 marketing year, above a range of trade estimates. Sales of 429,500 metric tons for marketing year 2025/26 were within expectations.

• In top soy buyer China, demand for soybeans is expected to remain subdued during the peak U.S. marketing season later this year.

• Cooler temperatures and occasional showers in the U.S. Midwest are expected to favor the nation's soy crop through early August, according to Commodity Weather Group.