CBOT soy suffers weekly loss after China buys Argentine supplies

CHICAGO, Sept 26 (Reuters) - Chicago Board of Trade soybean futures finished nearly flat on Friday after falling earlier in the week because China was buying Argentine supplies while snubbing U.S. crops, analysts said.

• Around 40 Argentine soybean cargoes were registered for export in November and December, mostly headed to China, after Buenos Aires briefly suspended export taxes this week, traders said.

• The purchases directly eat into the prime U.S. marketing season and pushed CBOT soy Sv1 to a six-week low on Tuesday.

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

• The United States should remove what China described as unreasonable tariffs and create conditions to expand bilateral trade, a Chinese commerce ministry spokesperson said, when asked if China would purchase U.S. soybeans.

• CBOT November soybeans SX25 ended 1-1/2 cents higher at $10.13-3/4 per bushel. The contract dropped about 1.1% for the week.

• CBOT December soymeal SMZ25 ended $1.40 higher at $274.60 per short ton. CBOT December soyoil BOZ25 dipped 0.08 cent to 50.19 cents per pound.

• Next week, the U.S. Department of Agriculture is slated to issue quarterly data on grain stocks.