Soybean futures traded below $12 per bushel, extending weakness after a nearly 3% decline in the previous session, as traders stayed cautious despite the prospect of large-scale Chinese purchases of US agricultural commodities. US Trade Representative Jamieson Greer said China is expected to make “double-digit billion” annual purchases of US farm products over the next three years, while President Donald Trump noted that Beijing would buy “a lot of soybeans” from American farmers. Greer also referred to an existing agreement under which China would purchase 25 million tons of US soybeans annually over the coming years.
Even so, sentiment remained muted as markets waited for concrete details on the timing and size of the purchases, after the first day of talks between Trump and Chinese President Xi Jinping ended without confirmed trade commitments. In the meantime, the USDA projected that US soybean ending stocks will fall to 310 million bushels by the close of the 2026–2027 marketing year, down from an estimated 340 million bushels at the end of the current season.
