March Soybean futures reached their highest closing level since December 1st, showing significant strength despite being in overbought territory according to the Relative Strength Index. Market participants are closely monitoring reports regarding a potential one-year extension of the trade truce between the U.S. and China, which could involve the purchase of an additional 8 million metric tons of soybeans. This optimism persists even as the weekly export sales report showed 282,000 metric tons, coming in below the anticipated range of 300,000 to 1.1 million metric tons.