China Could Resume U.S. Soy Purchases — Deal Unfinished

President Trump’s Asia trip and a planned meeting with Xi Jinping have raised hopes that China will resume buying U.S. soybeans, with officials saying agricultural purchases are part of a broader framework that is still being finalized. Treasury Secretary Scott Bessent said he expects “substantial” Chinese soybean buying and struck an optimistic tone that helped lift markets, but Chinese officials provided few details and experts warn purchases depend on written terms and domestic approvals. Farmers and state leaders expressed cautious optimism and skepticism, noting past commitments were only partly fulfilled and that Chinese crushers already hold ample supplies. Top Iowa Republicans urged coordinated steps to reopen foreign markets, suspend retaliatory tariffs and shore up domestic demand, while a federal shutdown complicates relief and aid talks. Bessent’s repeated claim that he is “a soybean farmer” drew criticism because he is a wealthy landowner who must divest some farmland and other assets amid potential conflicts, raising questions about his representation of farmers’ hardships.