Ukraine could benefit from renewed Chinese purchases of American soybeans

US President Donald Trump and Chinese President Xi Jinping met in South Korea to renew trade relations. Following the talks, Trump announced that China would buy “massive” volumes of American soybeans as part of a broader trade agreement, noting that purchases would begin “immediately.” Beijing also confirmed its intention to expand agricultural trade. Subsequently, US Treasury Secretary Scott Bessent announced the first figures: China agreed to purchase 12 million tons of soybeans this year, a welcome relief for American farmers. He also added that China would commit to purchasing a minimum of 25 million tons annually over the next three years—a promise that, if fulfilled, could signal a structural return of Chinese demand for the US market. The 12 million ton figure is broadly in line with analysts’ expectations—enough to signal a warming of relations, but nowhere near pre-war levels. Chinese crushers are already well supplied after record purchases from Brazil and Argentina, ...