CBOT soybeans soar following trade war pause

CHICAGO, May 12 (Reuters) - Chicago Board of Trade soybean futures notched a three-month high on Monday as a truce in the U.S.-China trade war and a bullish U.S. Department of Agriculture report helped prices recover to pre-trade war levels, traders and analysts said.

• The U.S. and China agreed on Monday to temporarily slash their steep tariffs on each other, sending global stocks surging as the world's top two economies tapped the brakes on a trade war that had fed fears of a global recession.

• Soybeans have been the hardest-hit U.S. crop in the trade standoff, as China - the world's top soy importer - continues to shift purchases to Brazil from the United States.

• The trade war also included a stop on other U.S. grain exports to China.

• The USDA estimated 2025-26 soybean ending stocks at 295 million, compared to analysts' estimates for 362 million.

• It pegged 2024-25 U.S. soy stocks at 350 million, compared to its April forecast for 375 million and analysts' expectations for 369 million.

• CBOT July soybeans SN25 settled 19-1/2 cents higher to $10.71-1/4 per bushel.

• CBOT July soyoil BON25 rose 0.85 cent to 49.92 cents per pound, and July soymeal SMN25 rose $4 to $298.10 per short ton.