Crops Surge on Prospect China Will Step Up Buying in Trade Truce
- China agrees agriculture concessions in return for duty relief
- ‘The key will be whether these are true concessions’: Knorr
Soybeans are harvested.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Soybean futures jumped to the highest in more than three months, while corn extended gains, on news that the U.S. and China reached a partial agreement in the trade war that could lay the groundwork for a broader deal.
China would agree to some agriculture concessions as part of the deal while the U.S. would offer tariff relief, according to people familiar with the matter. The pact is tentative and subject to change as President Donald Trump was due to meet Chinese Vice Premier Liu He in Washington this afternoon, just after grains markets close on the Chicago Board of Trade.