Soybean futures rose above $11.8 per bushel, hitting a five-week high as renewed Chinese demand for US supplies boosted market sentiment. State-owned trader Cofco reportedly booked at least six cargoes of US soybeans for September-October shipment, adding to the 200,000 metric tons already purchased by Chinese buyers, according to the USDA. The renewed buying comes after the May summit between US President Donald Trump and Chinese President Xi Jinping, which paved the way for expanded agricultural trade. The White House said China agreed to purchase at least $17 billion worth of US agricultural products, including a minimum of 25 million tons of soybeans annually through 2028, fueling optimism over export demand for US crops. Supporting prices further, mixed US Midwest weather forecasts fueled uncertainty, with above-normal temperatures expected through mid-July, a critical period for crop development, even as improving rainfall prospects tempered concerns over potential yield losses.

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