Global markets for grains and oilseeds

U.S. soybean futures reached a 15-month high on Thursday after the administration of President Donald Trump stated that China, the largest importer, agreed to buy tens of millions of tons of American produce over the next few years as part of a trade truce. Farmers welcomed the agreement after China turned away from U.S. soybeans in its fight with Trump over tariffs and shifted purchases to competing producers in South America. However, these deals do not cover the volumes of U.S. exports to China in recent years. "It's not beyond what they've done in the past, but it's certainly helpful," said Illinois farmer Sherman Newlin, who is also an analyst for Risk Management Commodities. The most active soybean futures on the Chicago Mercantile Exchange rose by 13.5 cents to $11.07 3/4 per bushel. Earlier, prices rose to $11.14 1/2, which is a record high since July 2024. The trade dispute deprived U.S. farmers of the largest market, as they had to contend with low crop prices and rising ...