CBOT soybeans lower on technicals, worries over China trade

CHICAGO, Oct 9 (Reuters) - Chicago Board of Trade soybean futures retreated on Thursday in a technical and profit-taking setback, and as trade tensions between the U.S. and China stoked concerns about export demand, analysts said.

• Trading was restrained as a federal government shutdown postponed the release of U.S. Department of Agriculture monthly supply and demand report and weekly export sales data on Thursday.

• CBOT November soybeans SX25 settled 7-1/4 cents lower at $10.22-1/4 per bushel. The contract hit chart resistance at its 100- and 200-day moving averages.

• CBOT December soymeal SMZ25 was $1.10 lower at $276.90 per short ton while December soyoil BOZ25 fell 0.54 cent to end at 50.94 cents per pound.

• Active harvesting around the U.S. Midwest under mostly favorable weather was expected to produce a bumper crop, although yields were expected to be smaller than the latest U.S. Department of Agriculture forecast.

• News that China expanded export controls on rare earth metals on Thursday raised concerns about U.S.-China trade tensions ahead of a meeting later this month between U.S. President Donald Trump and Chinese President Xi Jinping. They are expected to discuss China's lack of U.S. soy purchases.

• The Trump administration has not released details about its planned bailout of U.S. farmers stung by the trade dispute and big harvests. Agriculture Secretary Brooke Rollins said Thursday that the administration could deliver aid once the government reopens.

• China's Agriculture Ministry left its forecast for 2025/26 soybean imports in its October outlook at 95.8 million metric tons, unchanged from last month's report.