CBOT soybeans rise on hopes for Trump-Xi China deals

CHICAGO, Sept 21 (Reuters) — Chicago Board of Trade soybean futures ended higher on Monday on hopes for more Chinese demand for US soybeans as a result of a meeting expected this week between Presidents Donald Trump and Xi Jinping, analysts said. Traders hope Beijing may remove a 10% import duty on US soybeans, encouraging private Chinese buyers to resume purchases. US Treasury chief Scott Bessent said he had successful talks with the Chinese on trade issues over the weekend. Rain has delayed autumn US harvests in some areas of the Midwest, slowing the flow of fresh crops into the supply pipeline, analysts said. Analysts on average projected that the US Department of Agriculture will lower its good-excellent rating for the US soybean crop by one percentage point in a weekly report due later on Monday, according to a Reuters poll. The soybean harvest was seen 12% complete, about in line with its five-year average. CBOT November soybeans closed up 24-1/2 cents at $13.28 per bushel. (Reporting by Tom Polansek in Chicago; Editing by Cynthia Osterman) ((Thomas.Polansek@thomsonreuters.com)