CBOT soybeans extend retreat after Chinese buying sparked gains

CHICAGO, Nov 19 (Reuters) - Chicago Board of Trade soybean futures closed lower on Wednesday as traders sought to gauge the strength of Chinese buying, following the trade truce between Washington and Beijing last month.

• CBOT January soybeans SF26 ended 17-1/4 cents lower at $11.36-1/4 per bushel.
• CBOT December soymeal SMZ25 closed down $8.10 at $318.90 per short ton, while December soyoil BOZ25 slid 1.07 cent to 51.10 cents per pound.
• The soybean market has retreated after rallying on Tuesday to its highest level since June 2024.
• Reuters reported on Monday that Chinese state-owned grain trader COFCO bought around 840,000 metric tons of U.S. soy for shipment in December and January. Then, the U.S. Department of Agriculture confirmed China purchased 792,000 tons of American beans on Tuesday and reported sales of another 330,000 tons of U.S. soybeans to China on Wednesday.
• Traders were waiting for the U.S. Department of Agriculture to release U.S. grain and soy export sales data on Thursday, after the agency halted the release of weekly reports during the federal government's shutdown.
• For the week that ended on October 2, analysts estimated 2025-26 U.S. soybean export sales were 600,000 to 1.6 million metric tons, according to a Reuters poll.