CBOT soybeans nosedive as China makes limited purchases

CHICAGO, Nov 6 (Reuters) - Chicago Board of Trade soybean futures plummeted from Wednesday's highs on Thursday, as signs of only modest Chinese purchases from the United States tempered optimism about fresh demand following a bilateral trade truce.

• China has begun limited purchases of U.S. farm products after the leaders of both countries met last week, but traders still await significant soybean buys after the White House said Beijing pledged to buy 12 million tons by year-end.

• U.S. officials have said Beijing has pledged to buy tens of millions of metric tons of U.S. beans, including 12 million over November and December, under last week's trade truce.

• China will suspend retaliatory tariffs on U.S. imports following last week's meeting of their two leaders, Beijing confirmed on Wednesday, but imports of U.S. soybeans will still face a 13% tariff.

• CBOT January soybeans SF26 closed 26-3/4 cents lower to end at $11.07-1/2 per bushel.

• CBOT December soymeal SMZ25 ended $12.10 lower at $312.70 per short ton.

• CBOT December soyoil BOZ25 finished down 0.34 cent at 49.35 cents per pound.