Bessent says China soybean deals are already finalized
U.S. Treasury Secretary Scott Bessent stated that existing commitments from the Busan agreement mean soybean exports to China are already addressed. This announcement cools expectations for higher buying targets as Presidents Trump and Xi meet in Beijing to discuss trade relations.
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United States Treasury Secretary Scott Bessent said existing purchase agreements mean soybean exports to China are "all taken care of." The statement follows a Busan agreement requiring China to import 25 million metric tons of the oilseed annually through 2028. Investors expecting a higher buying target from the Beijing summit now face tempered growth prospects for American agricultural exports.
