Report: China buys U.S. soybeans

COFCO, a Chinese state-owned enterprise, recently acquired three shipments of U.S. soybeans, as reported by Reuters to two anonymous trade sources. The transaction occurred as U.S. President Donald Trump and Chinese President Xi Jinping prepare to meet on October 30 to discuss issues related to the trade war that has been ongoing for months. According to Reuters, China purchased 180,000 tons of U.S. soybeans for shipment between December and January, marking the first U.S. soybean purchase in the 2025-26 trade season. China, which typically buys large quantities of U.S. soybeans during the fall, has sourced most of its supplies this September and October from Brazil and other South American countries due to the trade war, which has seen high tariffs and counter-tariffs imposed by both countries since tensions escalated last spring. Even if a trade agreement is reached, China has already covered most of its needs for the fall season, meaning U.S. shipments to China in 2025 will be ...