CBOT soybeans touch 15-month high after China agrees to buy US crops

CHICAGO, Oct 30 (Reuters) - U.S. soybean futures reached a 15-month high on Thursday, after President Donald Trump's administration said top-importer China agreed to buy tens of millions of metric tons of American crops in the next few years as part of a trade truce, analysts said.

• CBOT November soybeans SX25 ended 11 cents higher at $10.91-1/4 per bushel. The most-active contract Sv1 reached $11.14-1/2 a bushel, the highest since July 8, 2024.

• CBOT December soymeal SMZ25 ended up $6.90 at $315.60 per short ton. CBOT December soyoil BOZ25 slipped 0.51 cent to 49.65 cents per pound.

• President Trump said on Thursday he had agreed with Chinese President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing.

• China agreed to buy 12 million metric tons of U.S. soybeans through January, and to purchase 25 million tons annually for the next three years, U.S. Treasury Secretary Scott Bessent told Fox Business Channel's "Mornings with Maria" program.

• The trade dispute has robbed U.S. farmers of their biggest market as they struggled with low crop prices and rising costs for inputs such as fertilizer.

• The U.S. Department of Agriculture suspended weekly export sales reports, normally published on Thursdays, due to the federal government's shutdown.