CBOT soybeans ease on US export demand concerns

CHICAGO, Sept 24 (Reuters) - Chicago Board of Trade soybean futures retreated on Wednesday as China's active buying of Argentine soy fueled worries about lagging U.S. export demand.

• Chinese importers kept up a hectic pace of Argentine soybean purchases after the South American supplier's move to abolish export taxes temporarily made its prices competitive, traders said on Wednesday. About 20 cargoes, or roughly 1.3 million tons, have been booked so far, traders said.

• Top importer China has yet to book any of the current U.S. soybean crop during its trade war with Washington.

• The U.S. Department of Agriculture is due to release weekly export sales data early on Thursday. Analysts surveyed by Reuters expect net U.S. soybean export sales in the week ended September 18 at 600,000 to 1.6 million metric tons.

• Soybean futures losses were limited by expectations that the USDA would lower its national yield estimate as more of the crop is harvested.

• CBOT November soybeans SX25 settled 3 cents lower at $10.09 per bushel, just 4 cents above a six-week low posted on Tuesday.

• CBOT December soymeal SMZ25 ended $1.20 lower at $276.10 per short ton.

• CBOT December soyoil BOZ25 declined 0.04 cent to 49.84 cents per pound.