China to Buy 12 Million Tons of Soy This Year, Bessent Says

China agreed to purchase 12 million metric tons of soybeans this year, Treasury Secretary Scott Bessent said, offering relief to US farmers waiting for exports to restart. Speaking Thursday on Fox Business, Bessent added that China committed to buy at least 25 million tons annually over the next three years. The remarks jolted the market: soybean futures erased losses of up to 2.2% and were up 0.2% at $10.965 a bushel as of 8:41 a.m. in Chicago.

Reviewed by JQJO team

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