CBOT soybeans fall to 6-week lows on long liquidation, export worries

CHICAGO, Dec 12 (Reuters) - Chicago Board of Trade soybean futures fell to six-week lows on Friday as worries about slowing export demand for U.S. supplies and the looming harvest of a large Brazilian crop spurred a round of long liquidation, analysts said.

• CBOT January soybeans SF26 settled down 16-3/4 cents at $10.76-3/4 per bushel after dipping to $10.75-3/4, the contract's lowest since October 30.

• CBOT January soyoil BOF26 fell 0.75 cent to end at 50.07 cents per pound.

• Soymeal futures closed mixed, with most-active January SMF26 settling 40 cents higher at $302.50 per short ton while back months closed lower.

• Data from the U.S. Commodity Futures Trading Commission showed that managed commodity funds built a massive net long position in CBOT soybean futures by mid-November, leaving the market prone to bouts of long liquidation.

• Open interest in CBOT soybean futures has been declining all week as futures have fallen, signaling long liquidation.

• The U.S. Department of Agriculture (USDA) confirmed sales of 132,000 tons of U.S. soybeans to China, the latest in a series of bookings to the world's top soy buyer since a trade truce struck in late October.

• Still, analysts are concerned that export demand for U.S. soybeans may soon dry up as South American supplies become available in January and February.

• The USDA also confirmed private sales of 104,328 tons of soymeal to Mexico.

• Ahead of backdated export sales data due from the USDA on Monday, traders expect the agency to report export sales of U.S. soybeans in the week ended November 20 at 800,000 to 3 million metric tons.