China purchases first US soybeans of the season

year, according to sources familiar with the matter, who asked to remain anonymous as they are not authorized to speak to the media. Over the past weekend in Malaysia, Chinese and US officials reached a broad framework agreement, paving the way for a full trade deal between leaders Xi Jinping and Donald Trump. The agreement would gradually roll back tariffs, fees, and export restrictions implemented or announced in recent weeks. The leaders are scheduled to meet on Thursday to finalize the details. Until now, Beijing had largely avoided US soybeans, using them as leverage in the trade war with Washington. Chinese crushers instead turned to South America, securing record shipments, though this strategy increased costs and exposed them to weather-related risks. US Treasury Secretary Scott Bessent noted that he expected “substantial” soybean purchases by China after negotiators addressed several contentious points over the weekend. Resuming trade could reopen access to the world’s ...