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UPDATE 1-China to buy another 12 mln t of US soybeans in 2017/18 in $5 bln deals

UPDATE 1-China to buy another 12 mln t of US soybeans in 2017/18 in $5 bln deals
From Reuters - November 8, 2017

* 2 letters of intent signed as Trump visits Beijing

* In one agreement COFCO to buy 4 mln T of beans from ADM

* Agreements come as U.S. seeks to offload record crop (Adds detail, background)

By Dominique Patton

BEIJING, Nov 9 (Reuters) - The United States soybean industry has signed two letters of intent with Chinese importers covering the $5 billion purchase by the latter of an additional 12 million tonnes of soybeans in the 2017/18 marketing year.

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