Soybeans Jump as Trump Urges China to Quadruple US Buying (4)

US President Donald Trump said he hopes China will massively step up its purchases of American soybeans, even as China has yet to book any cargoes for the upcoming season.

Soybean futures in Chicago jumped as much as 2.8% on Monday, the biggest intraday gain in four months. Corn and wheat also rose.

“China is worried about its shortage of soybeans,” Trump wrote on the Truth Social website. “I hope China will quickly quadruple its soybean orders. This is also a way of substantially reducing China’s Trade Deficit with the USA.”

Trump also thanked Chinese leader Xi Jinping in the ...