Trump had hailed a breakthrough on agriculture as part of the trade truce agreed in his meeting with Xi earlier this month, and tweeted "Farmers, I LOVE YOU!"
Chicago Board of Trade (CBOT) soybeans traded higher on Wednesday morning amid continued optimism on trade talks with China.
On Tuesday, Asian equities struggled again despite a bounce in NY as investors fret over a ideal storm of issues, including fears that the arrest of Meng Wanzhou, Huawei's chief financial officer, in Canada could further inflame the China-US trade row.
The soybean purchases by Chinese state-owned companies, valued at more than $500 million, will do little to reduce the $43.1 billion US trade deficit with China, which Trump wants to narrow over the long term.
"The risk right now is to the downside still, even though we had this reversal", said Gordon Charlop, managing director at Rosenblatt Securities in NY.
"Now we are seeing the possibility that China will come through with reductions of tariffs on USA autos, and that's another good, concrete step".
China has reportedly proposed cutting tariffs on US-made cars to 15%, the same tax levied on vehicle imports from other countries. According to Iowa State University's Agricultural Policy Review, 60% of all US soybean exports, which is a quarter of the entire crop, went to China.
We reported last week on Donald Trump's tweet that China would be slashing its tariffs on US-built vehicles, though at the time neither USA nor Chinese officials would confirm it, so we remained somewhat dubious on the subject.
The US has hit a total of US$250 billion worth of Chinese goods with tariffs since July, and China has retaliated by imposing duties on US$110 billion of US goods.
The arrest came the same day presidents Donald Trump and Xi Jinping agreed to a 90-day ceasefire in a tariff war over Beijing's technology policy.
China is the largest buyer of USA soy, importing about 60 per cent of all US overseas shipments past year in deals valued at more than $12 billion.
Vehicle sales in the world's second-biggest economy declined for a sixth consecutive month in November, bringing the market closer to its first annual drop in at least two decades. The United States has a long list of complaints against China on intellectual property, forced technology transfers and industrial subsidies.
China's Finance Ministry didn't respond to a request for comment.
One US trader with direct knowledge of the deals said that Chinese state-owned firms bought at least 12 cargoes for shipment from January to March.
A soybean farm outside of Salina, Kansas.
The USDA reported export sales of US corn in the week to December 6 at 903,200 tonnes for the 2018/19 crop year, below a range of trade expectations for 1.0 million to 1.5 million tonnes. The country uses the beans as feed for the large number of hogs in China and had been relying on producers like Brazil and Argentina to meet the shortfall.
She allegedly assured USA banks that Huawei and Skycom were different companies but prosecutors say they were one and the same . In the UK-another Five Eyes member state, the BT Group telecom giant has said it will also not use Huawei in its 5G network.
Her family was surprised and anxious when she didn't contact them on her birthday or get in touch over on the days that followed. A local woman, who Newstalk ZB agreed not to name, says she's seen a lot of police activity in the area this morning.
This morning, Downing Street said that Mrs May would bring her Brexit deal back before the House of Commons 'before January 21'. May declined to rule out the idea of a no-deal departure, saying: "The way to ensure there is no no deal is to agree a deal".
Graham, along with other Republican and Democrat Senators last week introduced a resolution condemning Khashoggi's murder. Those findings came after Saudi authorities spent weeks denying Khashoggi had been killed in the consulate.
The Samsung Galaxy A8s has a 6.4 inch, 2340 x 1080 pixel display with a 19.5:9 aspect ratio and slim borders on the top and sides. At the back, there is a triple camera setup stacked vertically, and a fingerprint scanner situated in the centre.
The charge to which Butina is set to plea requires foreigners working for their government to register with the U.S. Justice Department and it has been used in the past to prosecute foreign intelligence officers.
The US announced exemptions for countries such as India, China etc., allowing them to import crude oil from Iran. Before Thursday's meeting, Saudi oil minister Khalid al-Falih pointedly said Washington should back off.
LeBron James will face Dwyane Wade one last time tonight (10/12), when the Los Angeles Lakers welcome the Miami Heat. This will be one of my favorite post game reports of the year. "One of the best movies you could ever see".
Cheteshwar Pujara's assured presence at number 3 is great news for a side which has two openers low on confidence. Ajinkya Rahane's dismissal in the first innings was the toughest sight to swallow for Indian cricket faithfuls.
B-town celebs including Salman Khan , Katrina Kaif , Priyanka Chopra, Nick Jonas, Karan Johar and others have headed to Udaipur. In this season of mega weddings, the Ambanis have definitely raised the bar when it comes to hosting a sangeet ceremony.
Langer ready for pacey track in second India Test
However, it was his erratic radar and failure to capture wickets or build pressure with the new ball that has troubled Warne. Their training, preparation and hunger to learn and improve is something I've been extremely impressed with.
House sends Farm Bill to President
Senate Majority Leader Mitch McConnell (R-Ky.) applauded the hemp provision as a big boost for the agricultural industry. As a commodity, hemp would be eligible for crop insurance, which has not been available.
Fox's Napolitano: Trump Could Be Charged, Indicted
Trump has denied wrongdoing and has compared the investigations to a "witch hunt". "Cohen just trying to get his sentence reduced. Schiff did not rule out that Trump may become "the first president in quite some time to face the real prospect of jail time ".
State of emergency declared for Virginia
Even in the area just outside of D.C., many drivers found driving to be hard as the storm moved into the area around 5 p.m. Sunday will bring more than 12 inches of snow to the southern and central Appalachians, the National Weather Service said.
Brexit in turmoil as May postpones Parliament vote on it
Current forecasts indicate May's deal will be defeated, a step that would thrust the government's Brexit plans into confusion. Anti-Brexit demonstrators protest outside the Houses of Parliament in London, Britain, December 3, 2018.