CBOT soybeans climb to 15-month high on China trade optimism

CHICAGO, Oct 31 (Reuters) - U.S. soybean futures set a 15-month high on expectations for increased Chinese buying on Friday and posted their biggest monthly gain in almost five years, traders said.

• China agreed to buy 12 million metric tons of U.S. soybeans through January and 25 million tons annually for the next three years as part of a trade truce, U.S. Treasury Secretary Scott Bessent said on Thursday.

• China bought four more U.S. soybean cargoes following the deal, Bloomberg reported.

• Traders were cautious over how China's soybean long-term purchasing pledge will translate into actual U.S. exports.

• CBOT January soybeans SF26 ended 7-1/2 cents higher at $11.15-1/4 per bushel. The most-active contract Sv1 reached $11.15-3/4 a bushel, the highest since July 8, 2024.

• The most-active contract climbed 7.1% for the week and posted its biggest monthly gain since December 2020.

• CBOT December soymeal SMZ25 ended up $6 at $321.60 per short ton and reached the highest price since February.

• CBOT December soyoil BOZ25 fell 0.97 cents to 48.68 cents per pound and touched the lowest level since June.