U.S. President Donald Trump has touted the prospect of China buying $40 BILLION in U.S. farm products in 2020 as a PILLAR  of the "Phase 1" agreement aimed at defusing the bitter trade war that erupted between the world's two largest economies in 2018. ...

But Chinese forward purchases of Brazilian soybeans, including about a dozen bulk vessels this week, or about 800,000 tonnes, are raising doubts Chinese buyers will have an appetite for vast supplies of U.S. soybeans once the deal is done.
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"The key factor for crushers is whether the beans are cheap, even with a trade deal. If the beans from South America are cheap, buyers will go for South America," one of the traders said.

No details about the targeted $40 BILLION shopping list have been published, and China has not confirmed any purchase commitment. The U.S. grain and livestock market rally that followed the Dec. 13 announcement of a trade deal has faded.