Trump Says China to Buy ‘Tremendous’ Amounts of US Soybeans (4)

President Donald Trump said China will purchase “tremendous” amounts of American soybeans following a meeting to hammer out a wide-ranging trade deal with his counterpart Xi Jinping.

China will start buying immediately, Trump said in comments to reporters after talks with Xi in South Korea on Thursday. He did not provide any additional details. The Chinese commerce ministry said later that the two countries had agreed to expand agricultural trade, without making a specific reference to soybeans.

Soybeans in Chicago slid as much as 2.2% following the meeting, the biggest intraday decline in almost four months, as traders grappled with ...