CBOT soybean futures continued their upward trend on Monday, with the benchmark July contract closing 2.9% higher at 1213 cents per bushel, after hitting an intraday high near 1226 cents. The rally was driven by multiple bullish factors: the White House announced that China has committed to purchasing at least $17 billion worth of U.S. agricultural products annually from 2026 to 2028, along with a previous commitment of 25 million tons of soybean purchases, significantly boosting U.S. soybean export prospects. In addition, recurring tensions in the Middle East pushed international oil prices higher, driving demand for soybean oil through the biodiesel chain, which in turn supported the U.S. soybean market. However, U.S. soybean planting progress has reached 67%, higher than 63% a year ago and the five-year average of 53%, with favorable weather conditions limiting upside potential.