CBOT soybeans end flat, post weekly loss on poor Chinese demand

CHICAGO, Aug 1 (Reuters) - Chicago Board of Trade soybean futures finished flat on Friday as poor Chinese demand and expectations for a large U.S. crop hung over the market, traders said.

• The market posted its second consecutive weekly loss.

• U.S. crop conditions remain mostly favorable at the start of August, which is typically the most important month for weather to determine how big soybean yields will be.

• The U.S. faces stiff competition for global sales from South America during the trade dispute between Washington and China, the world's biggest soybean importer.

• A Chinese buyer signed a deal this week to import 30,000 metric tons of Argentine soymeal, two trade sources said.

• The U.S. Department of Agriculture is slated to update its global supply and demand estimates in a monthly report on August 12.

• The June U.S. soybean crush likely dropped from a month earlier to 5.899 million short tons, or 196.6 million bushels, according to analysts surveyed by Reuters ahead of a monthly USDA report due on Friday.

• CBOT November soybeans SX25 were unchanged at $9.89-1/4 a bushel and lost about 3.1% for the week.

• Most-active CBOT December soymeal SMZ25 ended up $4.50 at $280.50 per short ton in a rebound from recent contract lows.

• CBOT December soyoil BOZ25 ended down 0.84 cent at 53.90 cents per pound.