China to Buy 12 mt Soy This Year
Bessent announced that China will purchase 12 million tons of soybeans from the US this year, and 25 million tons each in the next three years. In 2024, the United States sold 27 million tons of soybeans to China. Production is less than 120 million tons. Soybean prices declined after the meeting between Trump and Xi, due to the lack of specifics regarding purchases. However, Bessent’s announcements alone may not be enough to maintain positive market sentiment.
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