US soyabean futures touched a six-week high on Monday on expectations that China would ramp up purchases of US soya following this month's announcement of a "Phase 1" trade deal, analysts said.
Soyabeans led the way up after China's finance ministry said it will lower tariffs on products ranging from frozen pork and avocado to certain semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States.
President Donald Trump on Saturday said the United States and China would "very shortly" sign their so-called Phase 1 trade pact.
The US Department of Agriculture said on Monday that private exporters sold 126,000 tonnes of US soyabeans to China for delivery in the 2019/20 marketing year that began September 1.
China's top agriculture consultancy said last week the country will make good on a pledge to buy more than $40 billion of American farm goods.
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