State-owned firm to buy more US soybeans following

Recent trade talks between China and the US have yielded positive results, laying the foundation f

or reaching a deal before the March 1 deadline and sending out positive signals to global markets.

State-owned grain trading company COFCO said Sa

turday that it had again purchased millions of tons of US soybeans, a move to implement the conse

nsus reached by the two countries’ top leaders, according to a statement published on its website.

The latest round of China-US trade talks made “important progress” for the current st

age the two sides had “candid, specific and constructive discussions,” the Xinhua News Agency reported.

Global markets were cheered up on Friday over progress reached in the latest talks between the world’s two largest economi

es, as the escalated trade war had sent turbulence through the markets and darkened economic outlook worldwide.

Stock markets posted mixed gains Friday, with US futures set for a modestly higher open, bu

t European shares gave back early gains, according to US financial site thestreet.com.

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