Soybeans firm after losses, strong Chinese demand supports

• Soybeans rise after losses, market eyes Chinese demand
• China December soybean imports rise 1.3% y/y to 8.04 mln T
• Bumper Brazilian harvest to cap gains in Chicago soybeans

BEIJING, Jan 14 (Reuters) - Chicago soybeans firmed on Wednesday after falling for two sessions, driven by firm Chinese demand, though gains were capped by lower-than-expected U.S. export estimates and favourable weather in Brazil.

The most-active soybeans contract on the Chicago Board of Trade (CBOT) Sv1 added 0.29% to $10.41-3/4 a bushel by 0350 GMT.

"CBOT soybeans found support to start the session on the back of an uptick in Chinese demand for U.S. soybeans, however, the strong global and U.S. supply outlook resulted in this uptick quickly subsiding," said Joe Boyle, an agricultural analyst at Bendigo bank.

China imported 8.04 million metric tons of soybeans in December, up 1.3% from a year earlier, customs data showed on Wednesday. China's total 2025 soybean imports were 6.5% higher than the year before at a record 111.83 million tons.

China's state stockpiler Sinograin sold all 1.1 million tons of soybeans offered at its fourth auction since December on Tuesday, traders said, as it moves to draw down inventories ahead of incoming U.S. shipments.

The U.S. Department of Agriculture on Tuesday said private exporters reported sales of 168,000 tons of U.S. soybeans to China along with 152,404 tons in sales to Mexico.

The agency said on Monday U.S. soybean harvest was larger than many traders and analysts had expected. The agency also cut its U.S. export outlook and raised its estimate for Brazil's harvest.

Rains in Brazil are likely to boost a broadly expected record harvest. The country's soybean exports are projected to hit 3.73 million tons this month, about 1.3 million tons more than estimated last week, even though farmers have just begun harvesting their 2026 crop, grains exporting group Anec forecast on Tuesday.

CBOT wheat Wv1 lost 0.05% to $5.10-1/4 a bushel. Corn Cv1 rose 0.3% to $4.21 a bushel after dropping to a three-month low in the last session.

The USDA on Monday surprised the corn market by increasing its estimate of the 2025 crop harvest to above 17 billion bushels, a new record, signalling a heavy supply outlook that likely will burden prices and further squeeze farmers' bottom lines even amid record demand, analysts said.