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China steps up U.S. soybean purchases ahead of Trump-Xi meeting
['Mark Magnuson']
d2645
China has increased purchases of U.S. soybeans following a May summit between President Donald Trump and Chinese President Xi Jinping, providing a boost for American soybean exporters.
The U.S. Department of Agriculture reported China purchased 238,000 metric tons of U.S. soybeans last week.
Traders are watching for further trade signals ahead of an expected Trump-Xi meeting in September.
Reuters said China has announced new legal and trade measures targeting the United States, including tighter export reviews and sanctions against several U.S. entities.
While those measures do not specifically target agriculture, changes in trade conditions could affect soybean demand, commodity prices, and export planning.