CBOT corn sets July high on expectations for US-China trade deal

CHICAGO, Oct 27 (Reuters) - Chicago Board of Trade corn futures finished higher on Monday and hit the highest level since July in the most-active contract as expectations for a U.S.-China trade deal boosted grain and soy markets.

• U.S. President Donald Trump said the U.S. and China are set to "come away with" a trade deal, as he is expected to meet Chinese President Xi Jinping on Thursday in South Korea.

• CBOT soybeans set a four-month high on hopes China will resume purchasing U.S. supplies as part of a deal.

• Buying spilled into the corn and wheat markets from soybeans, traders said.

• Analysts estimated the U.S. corn harvest was 72% finished as of Sunday and the soybean harvest was 84% complete, according to a Reuters poll.

• CBOT December corn CZ25 ended up 5-1/2 cents at $4.28-3/4 per bushel.

• The most-active contract Cv1 reached its highest since July 3.