CBOT soybeans fall on competition from Brazilian exports

CHICAGO, Jan 2 (Reuters) - Chicago Board of Trade soybean futures fell on Friday on a day of thin post-holiday trade as weather was favorable in South America and U.S. exports faced competition from Brazilian beans.

• Trading remained limited after the New Year holiday, with many traders taking the day off before the weekend.

• Rain has improved soil moisture in Brazil's growing areas and more needed rains are expected in northern areas through early next week, according to forecaster Vaisala.

• Brazilian soybeans are currently more competitively priced than U.S. beans, according to analysts. GRA/

• CBOT March soybeans SH26 settled 1-3/4 cents lower at $10.45-3/4 a bushel, having hit its lowest point since October 23.

• CBOT March SMH26 soymeal futures settled $3.40 lower at $296.00 per short ton.

• Most-active March soyoil BOH26 ended 0.74 cent higher at 49.30 cents per pound.