CBOT soybeans hit one-month top on US-China trade optimism

CHICAGO, Oct 20 (Reuters) – Chicago Board of Trade soybean futures hit their highest level in a month on Monday on renewed optimism over U.S.-China trade talks after U.S. President Donald Trump said he believed Beijing would agree to a soybean trade deal and will buy U.S. soy again, traders said. * CBOT November soybeans settled up 12-1/4 cents at $10.31-3/4 per bushel after reaching $10.33-3/4, the contract's highest since September 19. * CBOT December soymeal ended up $4 at $285 per short ton and December soyoil rose 0.18 cent to finish at 51.31 cents per pound. * Ahead of meetings with Chinese President Xi Jinping in South Korea later this month, Trump said on Sunday he wanted China's purchasers to buy soybeans "at least in the amount they were buying before" and that he believed a soybean deal would be reached. * China imported no soybeans from the U.S. in September for the first time since November 2018, with Chinese buyers turning to South American supplies instead. * In Brazil, the 2025/26 soybean crop was 24% planted as of last Thursday, ahead of the 18% recorded at the same time last year, agribusiness consultancy AgRural said. * The U.S. soybean harvest was winding down in some areas. Analysts surveyed by Reuters on average estimated that the U.S. soybean crop was 73% harvested by Sunday and the corn harvest was 59% complete. * No reports from the U.S. Department of Agriculture's statistical arm were scheduled this week due to the ongoing government shutdown. * However, the USDA reported export inspections of U.S. soybeans in the latest week at 1,474,354 metric tons, topping a range of trade expectations for 500,000 to 1,355,000 tons. (Reporting by Julie Ingwersen Editing by Marguerita Choy)

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