Chinese firms demand 260K tons US soybeans
Chinese state-owned companies have reserved approximately 260,000 tons of American soybeans, including four shipments scheduled for shipment in December and January. This move is part of China's effort to fulfill its commitments under the trade truce reached with the United States last year. These purchases come ahead of a potential summit between U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, as China aims to buy at least 25 million tons of soybeans annually until 2028, along with other agricultural products valued at $17 billion per year. The two sides also discussed the possibility of reducing tariffs on certain goods, which could encourage traders to return to the market, amid preparations for Trump to host Chinese President Xi in Washington later this week.
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