Palm | Kelapa Sawit

SINGAPORE/BEIJING, Feb 6 (Reuters) - China, the world's biggest food shopper, is likely to buy more U.S. soybeans this quarter, as a withering drought is expected to cut the South American harvest, pushing soy prices up to fresh highs.

Benchmark Chicago soy has risen for three weeks on the relentless southern hemisphere summer, and analysts say prices could head higher, with U.S. stockpiles seen shrinking as China locks in supplies after the Lunar New Year break.

China imports 60 percent of soybeans shipped around the world, with the bulk of its purchases coming from the United States and Brazil, the world's top exporters.