Overview
- After the Trump–Xi meeting, the White House said China would buy at least 12 million metric tons of U.S. soybeans by year-end and 25 million annually in 2026–2028.
- A USDA report released Friday shows just two post-summit Chinese purchases totaling 332,000 metric tons, far below the pace needed to meet the stated target.
- Chinese buyers are still booking Brazilian supplies—10 cargoes for December and 10 for March through July—because South American prices undercut U.S. offers, traders told Reuters.
- U.S. soybean prices fell 23 cents to $11.24 per bushel after the data, with analysts citing a Chinese import glut and an effective tariff near 24% that keeps U.S. cargoes more expensive than Brazil’s.
- Beijing has not confirmed detailed purchase commitments, and a U.S. official told Reuters that tools such as tariff adjustments and export controls remain options to enforce the deal.