CBOT soybeans head higher on hopes of Chinese purchases

CHICAGO, Feb 6 (Reuters) - Chicago Board of Trade soybean futures continued a three-day-long rally on Friday fuelled by President Donald Trump's remarks on Wednesday that China would buy more U.S. soybeans.

• Soybeans hit a two-month high on Wednesday after Trump posted that China was hiking purchases and "lifting the soybean count to 20 million tons" for the current season.

• That implied China could buy an additional 8 million metric tons of U.S. soybeans in 2025/26 on top of about 12 million tons already booked since a trade truce was reached in late October.

• The remarks surprised traders who expected China to rely heavily on Brazilian soybeans in the first half of 2026.

• Brazil, the world's largest soybean producer and exporter, is expected to produce 181.6 million metric tons in 2025/26, consultancy firm StoneX said on Monday, raising its outlook for the harvest that is in progress.

• CBOT March soybeans SH26 settled 3 cents higher at $11.15-1/4 a bushel.

• CBOT March soymeal SMH26 closed 40 cents higher at $303.60 per short ton.

• CBOT March soyoil BOH26 ticked 0.32 cent lower to end at 55.33 cents per pound.