CHICAGO: Chicago Board of Trade soybean futures closed modestly higher Monday on forecasts for dry weather in portions of Brazil's crop belt and news of fresh US soy sales to China, traders said.
* CBOT March soybeans settled up 2-3/4 cents at $9.24-1/4 per bushel.
* CBOT March soymeal ended up $3.20 at $322.20 per short ton while March soyoil fell 0.13 cent at 28.51 cents per pound.
* Chinese state-owned firms bought at least three cargoes of US soybeans, or about 180,000 tonnes, two traders with knowledge of the deals said. One said the total was closer to 15 cargoes, or about 900,000 tonnes.
* US officials are meeting their counterparts in Beijing this week for the first face-to-face talks since US President Donald Trump and China's President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global markets.
* Traders expect commodity index funds to buy CBOT soyoil, soybeans and soymeal futures as they rebalance their portfolios for the year during a five-session period starting Tuesday.
* The US Department of Agriculture reported export inspections of US soybeans in the latest week at 673,172 tonnes, in line with trade expectations for 500,000 to 850,000 tonnes.
* The CBOT January soybean, soymeal and soyoil contracts expire on Jan. 14.
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