CBOT soybeans close higher on Chinese demand for US supplies

CHICAGO, Jan 7 (Reuters) - Chicago Board of Trade soybean futures finished stronger on Wednesday and set a one-week peak on Chinese demand for U.S. supplies, analysts said.

• U.S. farmer sales of crops have been sluggish while demand from China has picked up, traders said.

• The U.S. Department of Agriculture confirmed on Tuesday that exporters sold 336,000 metric tons of U.S. soybeans to China for shipment in the 2025/26 season that ends on August 31.

• Traders told Reuters on Tuesday that China's state stockpiler Sinograin had bought 10 U.S. soybean cargoes this week, totalling around 600,000 metric tons.

• Sales of U.S. soybeans to China will partly dent demand for the Brazilian product this year, Brazilian grain traders lobby Anec said.

• On Thursday, the USDA is expected to report that total 2025-26 U.S. soybean export sales were 750,000 to 1.3 million metric tons in the week that ended on January 1, according to a Reuters poll of analysts. They estimated sales were zero to 300,000 metric tons for 2026-27 delivery.

• CBOT March soybeans SH26 closed up 10-3/4 cents at $10.67 a bushel after rising earlier to the highest level since December 29.

• CBOT March soymeal SMH26 climbed $5.90 to end at $305.40 per short ton.

• CBOT March soyoil BOH26 slipped 0.09 cent to close at 49.31 cents per pound. The contact backpedaled after set its highest point since December 15 on Tuesday.