CBOT soybean futures closed lower, with the November contract falling to 1,179.25 cents per bushel, retreating from two-and-a-half-year highs. Rainfall is expected in the U.S. Midwest over the weekend, and the soybean crop is currently in the critical pod-setting stage, where precipitation is vital for crop development. However, as of the week ending July 28, approximately 26% of U.S. soybean growing areas remained affected by drought, up from 18% the previous week. The good-to-excellent rating has declined for three consecutive weeks to 63%, below market expectations of 64% and last year's 70%the lowest for this time of year in three years, making August weather a key variable. On the export front, the USDA announced on Friday that private exporters sold 252,000 metric tonnes of new-crop soybeans to unknown destinations. Since July 8, cumulative sales to China and unknown destinations have reached 2.72 million metric tonnes, providing underlying support for U.S. soybean demand.