Overview
- State-owned COFCO bought multiple cargoes of U.S. soybeans, reported at roughly three shipments totaling about 180,000 metric tons, marking China’s first orders after a months-long halt.
- News of the deals landed just hours before President Donald Trump and President Xi Jinping meet Thursday on the sidelines of APEC in South Korea, where soybeans are expected to feature prominently.
- Treasury Secretary Scott Bessent said he anticipated renewed Chinese buying as part of a substantial negotiating framework reached with Beijing.
- Agriculture Secretary Brooke Rollins praised the move as a positive step for growers, while farmers described cautious relief after a year of depressed prices and storage strain.
- Traders warned the purchases may be tactical rather than a durable shift in demand, and a federal shutdown has slowed progress on a proposed aid package for soybean producers.