CBOT soybeans close stronger in recovery from setback

CHICAGO, Nov 21 (Reuters) - Chicago Board of Trade soybean futures closed higher on Friday as the market rebounded after a three-day decline, pushing prices to a two-week low, traders said.

• CBOT January soybeans SF26 closed 2-1/2 cents higher at $11.25 per bushel after falling as low as $11.13-1/4.

• The most-active contract Sv1 climbed on Tuesday to its highest level since June 2024 on Chinese purchases of U.S. supplies. However, the contract was basically flat over the course of the week as doubts emerged about China's buying pace.

• CBOT January soymeal SMF26 ended up $1.60 at $319.20 per short ton, and January soyoil BOF26 slipped 0.37 cent to 50.58 cents per pound.

• The U.S. Department of Agriculture this week confirmed that China bought more than 1.5 million metric tons of American soybeans.

• The USDA did not announce further sales to China on Friday in its daily reporting system.

• The U.S. faces tough competition for global export sales from cheaper soybeans in Brazil, analysts said.