Overview
- After the Trump–Xi meeting, the White House said China would buy at least 12 million tonnes of U.S. soybeans by year-end and 25 million tonnes annually for three years, figures Beijing has not publicly confirmed.
- Reuters reported that state-owned COFCO held a soybean procurement signing ceremony in Shanghai, though no volumes or counterparties were disclosed.
- Beijing reduced some additional duties on U.S. farm goods and removed a 10% surcharge on soybeans, yet U.S. beans still face a 13% tariff, keeping price competitiveness in focus.
- China has reportedly booked two U.S. wheat cargoes for December and resumed sorghum imports, moves some traders view as signaling intent rather than a shift in underlying economics.
- U.S. farmers are storing more soybeans as prices lag, domestic crushing capacity continues to expand with processors such as ADM offering storage incentives, and analysts say crush growth cannot fully replace lost export demand.