BEIJING/HAMBURG - Chicago grain and soybean futures rose ‌sharply on Monday after the White House said China had committed to buying at least $17 billion ​of U.S. agricultural products in the next three years.

Chicago Board of Trade most-active wheat rose ​3.2% to $6.56-1/4 ​a bushel at 1040 GMT. Corn rose 3.1% to $4.70 a bushel, while soybeans were up 2% at $12.01 a bushel. China made the commitment to ⁠buy U.S. farm products during meetings between U.S. President Donald Trump and Chinese President Xi Jinping last week, the White House said in a fact sheet released on Sunday.

The $17 billion purchase will not include the soybean buying commitments China made in ​October 2025, ‌the White House ⁠said. Markets were not ⁠anticipating that Beijing would raise the soybean target beyond 25 million metric tons.

"The White House ​announcement signals potential increases of Chinese buying of U.S. ‌corn, wheat and sorghum besides meat products," said a ⁠Beijing-based analyst.

China's farm imports from the U.S. still face an additional 10% levy after last year's rounds of tit-for-tat tariffs sharply curtailed trade.

“The China deal is very vague with details lacking, and China has failed to follow through on similar declarations of intent in the past,” a European trader said. “But it is a big figure and the hope is China could return to the routine high-volume purchases of U.S. grains and soybeans as seen before the trade dispute.”

China's ‌commerce ministry said on Saturday that both sides aim to ⁠promote two-way trade, including in agricultural products, through measures such ​as reciprocal tariff reductions across a range of goods. It did not specify which products. Meanwhile, high wheat prices in the U.S. were prompting buyers from the country ​to import wheat ‌from Poland, European traders said on Monday.