CBOT soybeans climb to one-week high on US-China trade hopes

CHICAGO, June 5 (Reuters) - Chicago Board of Trade soybean futures hit their highest in more than a week on Thursday on optimism about the U.S. trade relationship with China, the world's largest soybean buyer, after leaders of the two countries spoke by phone for more than an hour.

• CBOT July soybeans SN25 settled were up 6-3/4 cents at $10.51-3/4 per bushel after reaching $10.56-3/4, the contract's highest since May 28.

• CBOT July soymeal SMN25 ended unchanged at $297.10 per short ton while July soyoil BON25 fell 0.16 cent to finish at 46.65 cents per pound.

• U.S. President Donald Trump and Chinese leader Xi Jinping held a rare leader-to-leader call in an effort to iron out trade disputes between the world's two largest economies, and they agreed to further discussions, according to U.S. and Chinese summaries of their call.

• Some brokers cited forecasts calling for warmer and drier conditions in the U.S. Midwest in mid-June, potentially stressing newly planted soybean crops.

• The U.S. Department of Agriculture reported export sales of U.S. old-crop soybeans in the week ended May 29 at 194,300 metric tons, toward the low end of trade expectations for 100,000 to 500,000 tons. EXP/SOY

• The USDA reported weekly export sales of U.S. soymeal at 254,700 tons while soyoil sales totaled 10,300 tons, both roughly in line with expectations. EXP/MEAL EXP/SOO

• Malaysian palm oil futures fell, snapping a two-session rally, as investors booked profits. POI/