CBOT soybeans rebound as industry assesses Chinese demand

CHICAGO, Aug 29 (Reuters) - Chicago Board of Trade soybean futures chopped up and down but ended higher on technical trading on Friday, though a lack of Chinese demand for U.S. supplies hung over the oilseed market.

• Soybean prices had climbed to a two-month peak last week, buoyed by hopes that China would revert to buying U.S. crop after months of shunning the origin in a wider trade war with Washington. But no such purchases have been confirmed.

• Traders will be monitoring U.S.-Chinese talks in the coming days, with senior Chinese trade negotiator Li Chenggang expected in Washington.

• Traders were adjusting positions at the end of the month and before a long weekend in the United States, where financial markets will be closed on Monday for the Labor Day holiday.

• CBOT November soybeans SX25 settled 6-1/2 cents higher at $10.54-1/2 per bushel.

• CBOT December soymeal BOZ25 ended $1.30 higher at $289 per short ton.

• CBOT December soyoil SMZ25 ended 0.29 cent lower at 52.14 cents per pound.