A tweet from President Trump sent soybeans soaring today. The President delivering the news on Twitter that many in the farming community have been waiting for--that he is talking trade with China.
The President tweeted, "Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina." That tweet, sent soybeans rallying up 32 cents before noon, but the news is not all good for soybeans.
Reuters reporting a vessel carrying soybeans from the U.S. to China switched its destination to South Korea on Thursday. The ship carrying 36,000 thousand tons of soybeans was loaded in Seattle in September. It was suppose to arrive on China on Wednesday. It was one of only a handful that was sent to China recently.