CBOT soybeans tick down on Brazil harvest expectations

CHICAGO, Jan 29 (Reuters) - Chicago Board of Trade soybean futures fell on Thursday with pressure from the early stages of a huge Brazilian soy harvest, but support from recent dollar weakness made U.S. exports more competitive on the global market.

• The dollar has been under pressure for several reasons, including expectations of continued Federal Reserve rate cuts, tariff uncertainty and U.S. policy volatility.

• Brazil is in the early stages of harvesting what is forecast to be a record soybean crop. Traders expect China to turn mainly to Brazil for imports in the coming months after a recent wave of U.S. soybean purchases.

• Analysts said farmer selling has ticked up in the U.S. and South America.

• CBOT March soybeans SH26 settled down 2-3/4 cents at $10.72-3/4 a bushel.

• CBOT March soymeal SMH26 closed down $1.80 at $296.00 per short ton.

• CBOT March soyoil BOH26 fell 0.28 cent to end at 54.03 cents per pound.