CBOT soybeans rally on expectations for US sales to China
CHICAGO, Nov 17 (Reuters) - Chicago Board of Trade soybean futures rallied to their highest level since June 2024 on Monday on expectations for U.S. sales to China, analysts said.
Some traders said China was reported to be making purchases, though they were not confirmed.
U.S. President Donald Trump said late on Friday that China would buy U.S. soybeans and other farm products, citing bilateral talks on the subject.
China has purchased only minimal volumes since Trump met Chinese leader Xi Jinping last month to strike a trade truce.
In other news, the U.S. soybean crush topped all trade forecasts and hit a record high in October, according to a monthly National Oilseed Processors Association (NOPA) report.
CBOT January soybeans SF26 ended up 32-3/4 cents at $11.57-1/4 per bushel.
CBOT December soymeal SMZ25 closed $8.30 higher at $330.80 per short ton and set its highest level since February.
CBOT December soyoil BOZ25 rose 0.99 cent to finish at 51.14 cents per pound.
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