CHICAGO: Chicago Board of Trade soybean futures advance on Monday as Washington and Beijing sought to ease tensions in the trade war that has slashed shipments of US soy to China, traders said.
* CBOT November soybeans settled up 10-3/4 cents at $8.67-1/4 per bushel after dipping to $8.55, which matched a nearly three-week low set on Friday.
* CBOT December soymeal ended up $3.20 at $298.60 per short ton and December soyoil slipped 1 cent to 28.69 cents per pound.
* US President Donald Trump predicted a trade deal with China after positive gestures by Beijing, calming markets that have been roiled by new tariffs from the world's two largest economies.
* China is the world's biggest soybean importer and bought $12 billion worth of the crop from the United States the year before the trade war.
* Uncertainty about the size of the upcoming US soybean harvest helped underpin futures prices, traders said.
* After Friday's CBOT close, advisory service Pro Farmer projected the US 2019 soybean yield at 46.1 bushels per acre, below the US Department of Agriculture's last forecast of 48.5.
* Analysts expect the USDA will rate 54% of the US crop as good to excellent in a weekly report later on Monday, up from 53% week earlier, according to a Reuters poll. Estimates on soybean ratings ranged from 52% to 55%.
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