CHICAGO: Chicago soybean futures climbed higher on Monday amid news reports that Beijing and Washington are close to settling a lingering trade dispute.
* CBOT May soybeans ended up 4-1/2 cents at $9.16 per bushel.
* CBOT May soymeal was up $3.10 at $310.50 per short ton, while May soyoil ended down 0.16 cent at 30.08 cents per pound.
* The United States and China appear close to a deal to remove tariffs, a source briefed on negotiations said on Sunday, while the Wall Street Journal reported that US President Donald Trump and Chinese President Xi Jinping could reach a formal trade deal at a summit this month.
* A breakthrough in the trade dispute could boost China's demand for US soy and other agricultural products.
* But traders cautioned that the trade talk boost to soybean futures was capped because the market has grown weary of the uncertainty of such a deal - not only for the timing, but details of when and how China's market will be reopened to the US market.
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