CBOT soybeans retreat from 16-month high on worries about Chinese demand

CHICAGO, Nov 4 (Reuters) - Chicago Board of Trade soybean futures crumbled on Tuesday over worries about U.S. export demand, after traders said Chinese buyers stepped up purchases of Brazilian cargoes in recent days.

• Prices Sv1 set 16-month highs on Monday on expectations that China would restart large-scale U.S. soy buying after the two countries reached a deal to de-escalate their trade war.

• Traders have yet to confirm large purchases of U.S. supplies, though.

• Traders said on Monday that Chinese importers had bought cheaper Brazilian soybeans as South American prices eased.

• Brazil, the world's biggest soybean exporter, has ample supplies, analysts said.

• CBOT January soybeans SF26 closed down 12-3/4 cents at $11.21-1/2 per bushel. On Monday, the most-active contract Sv1 hit the highest level on a continuous chart since June 2024.

• CBOT December soymeal SMZ25 ended down $3.40 at $317.40 per short ton, after rising on Monday to its highest level since February.

• CBOT December soyoil BOZ25 finished 0.31 cent lower at 49.53 cents per pound.