Treasury Secretary Scott Bessent said that China is expected to arrive at Thursday’s meeting with President Trump ready to make a deal involving major purchases of U.S. soybeans. Saying that soybean farmers “are going to be extremely happy with this deal.”
The American Soybean Association (ASA) called the remarks a “positive step,” expressing optimism that the commitments will lead to a lasting trade agreement. Analysts note that China likely needs U.S. soybeans to fill supply gaps before Brazil’s next harvest, though experts believe Brazil will continue to dominate the market long-term.
Meanwhile, the ASA also announced new trade agreements with Malaysia and Cambodia, as well as trade frameworks with Vietnam and Thailand that include tariff reductions and annual soybean meal purchases. These deals could expand export opportunities for American producers. As farmers wrap up the 2025 harvest, many face tough decisions about selling or storing soybeans amid market uncertainty.
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