CBOT soybeans dip on technical selloff, falling crude oil prices

CHICAGO, May 5 (Reuters) - Chicago Board of Trade soybean futures edged lower on Tuesday, snapping a two-session rally amid a slew of profit-taking and farmer selling, with easing crude oil prices also pressuring grains and soybeans, analysts said.

• The price of crude oil eased on Tuesday and investors took some comfort from news that a U.S.-flagged vessel had exited the Gulf under U.S. protection, though military incidents on Monday underscored ongoing shipping disruptions. O/R

• Conflict-driven fluctuations in oil prices have influenced grain markets, as corn and soybean oil are widely used for biofuel production.

• Brazil's soybean production is expected to reach 181.6 million metric tons in 2025/26, consultancy firm StoneX said on Monday, raising its outlook by around 1% from its projection last month.

• The U.S. Department of Agriculture on Monday said the U.S. soybean crop was 33% planted as of Sunday, well ahead of the five-year average of 23%.

• Expected rain in the U.S. Midwest raised worries about delays to corn and soybean planting, though the USDA's weekly report showed planting progress was ahead of the five-year average.

• CBOT July soybeans SN26 fell 11-1/4 cents to $12.11-1/2 per bushel.

• CBOT May soyoil BON26 rose 0.38 cent to 76.91 cents per pound.

• CBOT May soymeal SMN26 fell 50 cents to $320.40 per short ton.