Soybeans futures hit new highs for the move on Thursday as Greg McBride with Allendale, Inc. says there is growing optimism about a trade deal with China that will include soybean purchases.

Randy Martinson with Martinson Ag says soybeans are hitting new highs for the move with the tailwind of comments from President Trump about getting a trade deal with China next week in South Korea.

University of Minnesota soybean breeders are working to increase oil content in soybeans from around 22% to closer to 30%, a crop with higher oil that could cater to emerging demand.

Grains ended mostly higher on renewed technical buying, while cattle closed with limit down moves in feeder cattle in reaction to President Trump’s social media comments about beef.

The Environmental Protection Agency is proposing supplemental SRE reallocation volumes to the 2026 and 2027 Renewable Fuel Standard Volumes.

Garrett Toay with AgTraderTalk says after the recent rally corn and soybeans ran into chart resistance. However, outside markets had a negative impact with the selloff in precious metals and the rally in the dollar.

The new product also addresses other key issues in soybeans like frogeye leaf spot and septoria brown spot.

Jamie Gieseke with Paradigm Futures says soybeans are seeing some profit taking after a 35 cents rally off of last week’s lows but also some farmer pricing. The higher dollar is weighing on corn and wheat.

Jeff Hoogendoorn, Professional Ag Marketing, says soybeans ended higher on Monday and extended gains after a higher weekly close last week. Cattle tried to recover after Friday’s meltdown and after President Trump comments about the U.S. buying Argentina beef to lower prices for consumers.

Speaking with Fox News, Rollins noted USDA’s readiness to issue the promised aid.