U.S. President Donald Trump said on Truth Social late Sunday that he hoped China would “quickly quadruple” its orders of American soybeans, arguing that bigger purchases would “substantially reduce” Beijing’s trade deficit with Washington. He added that U.S. farmers could provide “rapid service,” and thanked Chinese President Xi Jinping in the post. The comments lifted commodity markets. The most-active soybean contract on the Chicago Board of Trade rose about 2.1% to $10.08 a bushel at 04:46 GMT, having been little changed before the message. Prices later touched an intraday gain of roughly 2.8%, the biggest advance in four months, while corn and wheat futures also firmed. Trump’s appeal comes one day before a bilateral tariff truce is due to expire on Aug. 12. The administration has signalled the deadline may be extended, but securing additional Chinese agricultural purchases is seen as a key objective as the two sides discuss rolling back their 145% levies on each other’s goods. Analysts were sceptical Beijing could meet the scale of the request. China imported about 105 million metric tons of soybeans last year, just under a quarter—roughly 22 million tons—from the United States, with the bulk sourced from Brazil. Quadrupling U.S. volumes would require China to divert most of its orders away from South America, a shift traders say is unlikely given recent efforts by Chinese feedmakers to diversify suppliers.
Trump dijo que espera que China aumente masivamente sus compras de soja estadounidense un día antes de que expire la tregua comercial: https://t.co/LpEv9AZoIv
#Soybeans jumped 2.5% after Trump urged China to quadruple US soy purchases. Soy and the #grains sector in general remains under pressure, recently hitting a five-year low, amid the prospect of a bumper crop in South America being topped up with strong production from the U.S. https://t.co/1rKCVoSY0d
US President Donald Trump said on Sunday that he hoped China would quadruple its soybean orders from the US, adding that it was also "a way of substantially reducing" Beijing's trade deficit with Washington. https://t.co/JS8z2MySGD