Trump Touts “Tremendous” Soybean Deal with China – Farmers Cautious as Details Remain Vague
President Trump announced China will buy large amounts of U.S. soybeans after meeting President Xi in Busan, but China offered no specific purchase commitments. U.S. soybean futures spiked, then fell 2.2% on uncertainty, settling near $10.80 per bushel Friday. Midwest farmers report billions lost from China’s near-total boycott. Analysts say China is still buying mostly Brazilian soybeans and warn U.S. tariffs remain unchanged.