CBOT soybeans slide on worries about exports, South American harvest

CHICAGO, Dec 9 (Reuters) - Chicago Board of Trade soybean futures hit their lowest in more than a month on Tuesday, pressured by worries about the scale of Chinese demand for U.S. supplies, along with expectations of large South American harvests, traders said.

• Additional pressure came from news that Argentina will lower export taxes on grains, soybeans and soy products in the coming days, sharpening competition for global export business.

• Argentina's levy on soybean exports will be cut to 24% from 26%, while soybean byproducts will be taxed at 22.5%, down from 24.5%.

• CBOT January soybeans SF26 settled down 6-1/2 cents at $10.87-1/4 per bushel after hitting $10.84-1/2, the contract's lowest since October 30.

• CBOT January soymeal SMF26 ended down $5 at $301.30 per short ton and January soyoil BOF26 fell 0.16 cent to finish at 51.02 cents per pound.

• The U.S. Department of Agriculture left its forecast of 2025-26 U.S. soybean ending stocks unchanged in a monthly supply-demand report at 290 million bushels, while analysts surveyed by Reuters on average had expected an increase to 302 million.

• The USDA left its forecast of U.S. 2025/26 soybean exports unchanged at 1.635 billion bushels, a 13-year low.

• The USDA kept its estimate of Brazil's 2025/26 soybean harvest at a record-high 175 million metric tons.

• Ahead of a monthly USDA soy crushing report due on Wednesday, analysts on average expected the government to report that U.S. processors crushed 234.2 million bushels of soybeans in October.