China has increased purchases of U.S. soybeans following a May summit between President Donald Trump and Chinese President Xi Jinping, providing a boost for American soybean exporters.
The U.S. Department of Agriculture reported China purchased 238,000 metric tons of U.S. soybeans last week.
Bloomberg said that puts purchases roughly one-quarter of the way toward a U.S. commitment for China to buy at least 25 million tons annually through 2028.
The Trump administration has also said China agreed to purchase at least $17 billion in additional U.S. agricultural products each year. Traders are watching for further trade signals ahead of an expected Trump-Xi meeting in September.
Reuters said China has announced new legal and trade measures targeting the United States, including tighter export reviews and sanctions against several U.S. entities. While those measures do not specifically target agriculture, changes in trade conditions could affect soybean demand, commodity prices, and export planning.
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