CBOT soy hits June high on hopes China will resume buying US supplies

CHICAGO, Oct 27 (Reuters) - Chicago Board of Trade soybean futures set a four-month high on Monday on hopes that China will resume buying U.S. supplies as part of a potential trade with Washington, traders said.

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

• U.S. Treasury Secretary Scott Bessent told NBC on Sunday that China will make "substantial" purchases of U.S. soybeans under a proposed trade deal framework, after Chinese buyers shunned U.S. soybeans from the autumn harvest due to the trade war.

• The U.S. soybean harvest was 84% complete as of Sunday, according to a Reuters poll of 10 analysts.

• CBOT November soybeans SX25 ended 25-1/2 cents higher at $10.67-1/4 per bushel.

• The most-active contract Sv1 reached its highest level since June 20.

• CBOT December soymeal SMZ25 ended up $4.10 at $298.20 per short ton, while December soyoil BOZ25 rose 0.50 cent to 50.77 cents per pound.