CBOT soybeans near two-month high on export optimism

CHICAGO, April 24 (Reuters) - Chicago Board of Trade soybean futures rose on Thursday, with the July contract SN25 reaching its highest in nearly two months on technical buying and optimism about export demand for U.S. soy, traders said.

• CBOT July soybeans SN25 settled up 11-3/4 cents at $10.62 per bushel after reaching $10.63-1/2, the contract's highest since Feb. 27.

• CBOT July soyoil BON25 soared 1.73 cents to finish at 50.07 cents per pound, drawing support from strength in crude oil CLc1 futures.

• But CBOT July soymeal SMN25 sagged, ending down $1.90 at $296.70 per short ton.

• Traders noted comments by U.S. officials this week on a possible de-escalation in the trade standoff between Washington and China, the world's top soybean buyer. President Donald Trump asserted that trade talks between the U.S. and China are underway, pushing back against Chinese claims that no discussions have taken place.

• Japan is considering increasing its soybean imports from the United States as part of tariff negotiations, the Nikkei reported.

• Meanwhile, Brazil will export more soybeans to China and more soymeal to clients in Europe, the Middle East and Southeast Asia in 2025, a director at industry group Abiove said.

• The U.S. Department of Agriculture (USDA) reported export sales of U.S. old-crop soybeans in the week ended April 17 at 277,000 metric tons, toward the low end of trade expectations for 200,000 to 600,000 tons. EXP/SOY