USDA data casts doubt on soybean deal New data the Agriculture Department released Friday created serious doubts about whether China will really buy millions of bushels of American soybeans like the Trump administration touted last month after a high-stakes meeting between President Donald Trump and Chinese leader Xi Jinping. The USDA report released after the government reopened showed only two Chinese purchases of American soybeans since the summit in South Korea that totaled 332,000 metric tons. That's well short of the 12 million metric tons that Agriculture Secretary Brooke Rollins said China agreed to purchase by January and nowhere near the 25 million metric tons she said they would buy in each of the next three years. American farmers were hopeful that their biggest customer would resume buying their crops. But CoBank's Tanner Ehmke, who is its lead economist for grains and oilseed, said there isn't much incentive for China to buy from America right now because they have plenty of soybeans on hand that they have bought from Brazil and other South American countries this year, and the remaining tariffs ensure that U.S. soybeans remain more expensive than Brazilian beans. "We are still not even close to what has been advertised from the U.S. in terms of what the agreement would have been," Ehmke said. Beijing has yet to confirm any detailed soybean purchase agreement but only that the two sides have reached "consensus" on expanding trade in farm products. Ehmke said that even if China did promise to buy American soybeans it may have only agreed to buy them if the price was attractive. Trump said his team spoke with Chinese officials today and they assured the White House they would be purchasing more soybeans, but he didn't offer any details of how much. "They're in the process of doing not only a little bit but they'll be doing a lot of soybean purchases," he told reporters. The Chinese tariff on American beans remains high at about 24%, despite a 10-…

Lol.
Did anyone ever see a statement from China repeating the claims made by #F47 and Ag Sec Rollins: China will buy 12m metric tons of soybeans this year and 25m more in each of the next three years? I never saw those details from a Chinese readout of the talks. #LyingLiars #ArtOfNoDeal #FarmersFO