CBOT soy at 3-wk high; US-China trade tensions ease

The July futures contract of soybean hit a three-week high of $10.3575 a bushel on the CBOT as US-China trade concerns eased, raising hopes of improved exports of the oilseed from the US. The most active July contract was at $10.32 a bushel, up 0.2%. China’s imports of soybean in April declined 13.7% on year to 6.9 mln tn. US CBOT soyoil also rose to six-week high of 31.75 cents a pound on Tuesday tracking gains in soybean.