CBOT soybeans end lower on US harvest pressure, worries about China demand
CHICAGO, Sept 15 (Reuters) - Chicago Board of Trade soybean futures ended lower on Monday, retreating from a two-week high on seasonal harvest pressure and worries about export demand from top global buyer China, traders said.
U.S. and Chinese officials met in Spain and reached a potential deal on the short-video app TikTok, but made no mention of agricultural commodities. China has shunned U.S. soybeans for the 2025/26 crop year, turning to South American suppliers amid trade tensions with Washington.
CBOT November soybeans SX25 settled down 3-1/2 cents at $10.42-3/4 per bushel.
CBOT December soymeal SMZ25 ended down $2.90 at $285.70 per short ton while December soyoil BOZ25 rose 0.09 cent, finishing at 52.26 cents per pound.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to report the U.S. soybean harvest as 5% complete. Analysts also expected the USDA to lower its weekly soybean crop condition ratings.
Soybean futures fell but found underlying support from bullish monthly U.S. crush data. The National Oilseed Processors Association (NOPA) said its members crushed 189.8 million bushels of soybeans in August, above a range of trade expectations.
Strong weekly export inspections also lent support. The USDA reported export inspections of U.S. soybeans in the latest week at 804,352 metric tons, topping a range of trade expectations for 200,000 to 730,000 tons. USDA/I
Brazil's soybean planting for the 2025/26 season reached 0.12% of the total expected area as of September 11, agribusiness consultancy AgRural said, noting dryness in the nation's Center-West region was potentially disrupting work.
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