CBOT soy retreats from 1-month top on profit-taking; US-China talks eyed

CHICAGO, Oct 24 (Reuters) - Chicago Board of Trade soybean futures ended lower on Friday on a round of farmer selling and profit-taking after the benchmark November contract SX25 hit a one-month high, traders said, while market players awaited upcoming U.S. trade talks with China, the world's top soybean buyer.

• CBOT November soybeans SX25 settled down 3 cents at $10.41-3/4 per bushel.

• However, for the week, the contract rose 22-1/4 cents or 2.2%, buoyed by hopes for a U.S.-China trade deal.

• CBOT December soymeal SMZ25 ended Friday up $1.80 at $294.10 per short ton while December soyoil BOZ25 fell 0.60 cent to finish at 50.27 cents per pound.

• Rallies this week triggered a round of soybean and corn sales by producers, analysts said, as the soybean harvest winds down.

• U.S. President Donald Trump is set to meet next week with Chinese President Xi Jinping in South Korea, with Trump reiterating that soybean purchases will be a major point of discussion.

• Top economic officials from the U.S. and China were due to arrive in Malaysia on Friday for talks to prevent a trade war escalation and keep next week's meeting between Trump and Xi on track. U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with Chinese Vice Premier He Lifeng to find a way forward.