CBOT soybeans slump on farmer selling, US dollar strength

CHICAGO, Jan 3 (Reuters) - Chicago Board of Trade soybean futures fell sharply on Friday as a flurry of farmer selling took place in the U.S. and South America, and weekly gains for the U.S. dollar weighed on futures prices, analysts said.

• CBOT March soybeans SH25 settled down 20-1/4 cents at $9.91-3/4 per bushel.

• The spot January soybean contract SF25, which expires on Jan. 14, ended down 18-1/2 cents at $9.81 a bushel.

• CBOT March soymeal SMH25 fell $11.30 to end at $308.60 per short ton while March soyoil BOH25 fell 0.34 cents to settle at 39.93 cents per pound.

• For the week, most-active soybeans Sv1 rose 0.20%.

• The oilseed was pressured by weekly gains for the U.S. dollar, which dipped for the day. A strong dollar tends to make U.S. exports more expensive and less attractive to holders of other currencies.

• The U.S. Department of Agriculture reported weekly export sales for the week ended Dec. 26 at 484,700 metric tons, beneath trade expectations for 500,000-1,200,000 metric tons, according to a Reuters poll of analysts.

• A hot, dry austral summer is beginning to cause damage to Argentina's 2024/25 soybean and corn crops, the country's two main grains exchanges said on Friday.

(Reporting by Renee Hickman in Chicago; Editing by Nia Williams)

((renee.hickman@thomsonreuters.com))