Soybean futures traded around $13 per bushel, moving sideways near their highest level since December 2023 as traders awaited details from an anticipated US-China summit and evidence of renewed Chinese demand for US crops. Markets are looking for China to announce specific purchases of US agricultural products or remove its 10% tariff on US soybeans. Washington and Beijing have agreed to extend a pause in their trade war until January 10. The White House said in May that Beijing had committed to buying at least $17 billion of US agricultural products in 2026, 2027 and 2028, although traders cited limited evidence that the commitment had been fulfilled. A stronger dollar weighed on grain markets by making US agricultural goods more expensive for importers. Renewed diplomatic efforts related to the Ukraine war meanwhile raised hopes for improved export flows from the Black Sea. Attention now shifts to USDA quarterly data due next week, which is expected to show September 1 soybean stocks at 324 million bushels, only slightly below the year-earlier level.