CBOT soybean futures surged sharply on Monday, with the main July contract closing at 1213 cents per bushel, up 36 cents, or 3.06%. The market was strongly supported by optimistic demand prospects, coupled with rising crude oil prices that boosted biodiesel demand, driving up prices for both soybean oil and soybeans. According to the USDA crop progress report, as of the week ending May 17, U.S. soybean planting progress reached 67%, slightly above market expectations and the same period last year, with emergence at 32%, unchanged from last year. In terms of export inspections, weekly U.S. soybean export inspections totaled 483,900 metric tons, of which 203,400 metric tons were shipped to China, accounting for 42%. Cumulative inspections for the current crop year remain lower compared to the same period last year. Additionally, Brazil's average daily soybean exports in the first two weeks of May rose 19% year-on-year, indicating that supply pressure from South America persists.