CBOT corn turns lower amid lack of corn deal details in Trump-Xi meeting

CHICAGO, Oct 30 (Reuters) - Chicago Board of Trade corn futures turned lower on Thursday, as prices set back from recent gains and traders were disappointed in a lack of specific framework for corn deals in the meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.

• Ongoing uncertainty over the size of the U.S. corn crop as harvest wraps up also weighed on the market. Updates to U.S. Department of Agriculture data have been unavailable during the federal government shutdown.

• Among other things, USDA has suspended weekly export sales reports, normally published on Thursdays, due to the shutdown.

• CBOT December corn CZ25 fell 3-3/4 cents to close at $4.30-1/4 per bushel.

• Trump said on Thursday he had agreed with Xi to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing.

• China agreed to buy 12 million metric tons of U.S. soybeans through January, and to purchase 25 million tons annually for the next three years, U.S. Treasury Secretary Scott Bessent told Fox Business Channel's "Mornings with Maria" program.

• Traders cautioned that the exact timeframe remained unclear and the announcements were yet to translate into large-scale purchases, while other crops were not mentioned except for sorghum, which Trump referenced without any details.