CBOT soybeans end weak on harvest pressure, export concerns

CHICAGO, Oct 6 (Reuters) - Chicago Board of Trade soybean futures eased on Monday on a rapidly advancing U.S. harvest, brisk early planting in rival exporter Brazil and a lack of demand from China for U.S. shipments, analysts said.

• CBOT November soybeans SX25 settled 1/4 cent lower to end at $10.17-3/4 per bushel. The contract hit overhead technical resistance at its 20- and 50-day moving averages.

• CBOT December soymeal SMZ25 was $1.50 lower at $277.10 per short ton while December soyoil BOZ25 gained 0.33 cent to end at 50.38 cents per pound.

• Recent dry weather allowed U.S. farmers to accelerate harvesting of what is forecast to be a bumper soybean crop.

• The U.S. soybean harvest was estimated to be 39% finished as of Sunday, according to an average of nine analysts polled by Reuters. The U.S. Department of Agriculture normally releases its weekly crop progress estimate on Monday afternoon, but the report will not be issued due to the government shutdown.

• The USDA said on Monday that 768,117 metric tons of U.S. soybeans were inspected for export in the week ended October 2, near the high end of trade estimates for 600,000 to 800,000 tons.

• Brazil's soybean planting for the 2025/26 season reached 9% of the expected area as of last Thursday, marking the second-highest level for the date, agribusiness consultancy AgRural said on Monday.

• Brazil exported 7.34 million metric tons of soybeans in September, up from 6.11 million tons in the same month last year, according to government data released on Monday.

• Traders are awaiting an update on U.S. government aid to soy farmers hurt by the trade war with China on Tuesday and an upcoming meeting between U.S. President Donald Trump and China's Xi Jinping at the end of the month.

• Trump said in a social media post last week that soybeans would be a major topic of discussion when he meets his Chinese counterpart in four weeks.