CBOT soybeans higher on Chinese buying, crusher demand

CHICAGO, Aug. 25 (Reuters) - Chicago Board of Trade soybean futures ticked higher on Tuesday on continued Chinese demand for U.S. soybeans and high crush margins, analysts said.

• The U.S. Department of Agriculture on Monday rated 60% of the U.S. soybean crop as good-to-excellent, down from 61% the previous week, while analysts on average had expected no change.
• On Tuesday, the USDA confirmed private sales of 132,000 metric tons of U.S. soybeans to unknown destinations for delivery in the 2026/27 marketing year, which begins on September 1.
• Some industry players raised concerns that newly unveiled U.S. sanctions against Iran's trade partners could later impact Chinese firms and risk provoking retaliation from the global superpower and biggest buyer of U.S. soybeans.
• Last week's Pro Farmer crop tour projected a larger soybean harvest than the U.S. Agriculture Department's outlook for record production following a sometimes rainy, mud-caked tour, noting "pockets of strong potential" for the crop that is highly dependent on late-season precipitation.
• Pro Farmer projected a crop of 4.572 billion bushels, with an average yield of 53.3 bpa.
• Oil prices fell for a second day as investors viewed new U.S. sanctions against Iran as posing less risk to supplies than military escalation.
• Soybeans are widely processed for biofuel and are sensitive to oil fluctuations.
• New-crop November soybeans SX26 settled 13-1/2 cents higher at $12.37-3/4 per bushel.
• CBOT September soymeal SMU26 ended unchanged at $320.30 per short ton, while September soyoil BOU26 settled 0.39 cent higher at 67.52 cents per pound.