China resumes US wheat purchases after a yearlong pause

between December and February. Data from the U.S. Department of Agriculture (USDA) show that China last purchased American wheat in early October 2024. The inquiries come shortly after the country resumed buying U.S. soybeans, signaling a gradual improvement in bilateral agricultural relations. On Monday, Chicago wheat futures climbed as much as 1.8%, reaching their highest level since July. According to a White House fact sheet, Beijing has agreed to reopen its market to U.S. agricultural products and remove tariffs on American wheat that were imposed in March. The announcement followed a meeting between U.S. President Donald Trump and Chinese leader Xi Jinping in South Korea last week. China’s government also confirmed that the two sides reached a “consensus” on expanding agricultural trade, though no specific details were provided. Analysts say these steps could form part of a broader trade agreement aimed at easing long-standing tensions between the world’s two largest ...