CBOT soybeans close lower as traders await Chinese buying

CHICAGO, Dec 3 (Reuters) - Chicago Board of Trade soybean futures ended lower on Wednesday as traders awaited new sales of U.S. soy to China, traders said.

• CBOT January soybeans SF26 settled down 9 cents, or 0.8%, at $11.15-3/4 per bushel.

• CBOT January soymeal SMF26 ended down 30 cents, or 0.1%, at $311.30 per short ton and January soyoil BOF26 tumbled 1.01 cents, or 1.9%, to finish at 51.67 cents per pound.

• U.S. Treasury Secretary Scott Bessent told the New York Times DealBook summit that China was poised to complete its commitments under a U.S.-China trade agreement, including the purchase of 12 million metric tons of soybeans, which the Treasury chief said would be finished by the end of February 2026.

• Some analysts said the February deadline was bearish because top global soy supplier Brazil by then will be starting the harvest of what is projected as a record-large soybean crop that could dominate exports.

• Meanwhile, U.S. shipments to China are gaining momentum, with at least six bulk cargo vessels scheduled to load with soybeans at Gulf Coast terminals through mid-December, according to a shipping schedule seen by Reuters.

• Ahead of Thursday's weekly export sales report from the U.S. Department of Agriculture, traders estimated net export sales of U.S. soybeans in the week ended October 30 at 600,000 to 2,000,000 metric tons. The government is still releasing back-dated export sales data following the 43-day government shutdown that ended last month.

• Statistics Canada is expected to raise its canola production outlook to 21.25 million metric tons in a report due on Thursday, up from its previous estimate of 20.03 million tons.