China Agrees to Buy U.S. Soybeans
China has agreed to buy 12 million metric tons of U.S. soybeans this year, according to U.S. Treasury Secretary Scott Bessent.
Additionally, China has agreed to buy 25 million metric tons of soybeans during the next three years, although finite details of the deal have not been released.
Many farmers have already sold their soybean crops at a loss.
Agricultural Council of Arkansas Executive Director Andrew Grobmyer stated that the deal will have a modest impact, with commodity prices slightly up, allowing farmers who haven’t sold their crops to potentially make a little extra money.
Author's summary: China agrees to buy large quantities of U.S. soybeans.
- 12 million metric tons of soybeans to be bought this year
- 25 million metric tons to be bought over the next three years
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