07.07.202606:35:42UTC+00Soybeans Rise as China Buys More

Soybean futures climbed above $11.80 per bushel, reaching a five-week high as renewed Chinese demand for US supplies lifted market sentiment. State-owned trading firm Cofco reportedly booked at least six cargoes of US soybeans for September–October shipment, in addition to the 200,000 metric tons already purchased by Chinese buyers, according to the USDA. This renewed buying follows the May summit between US President Donald Trump and Chinese President Xi Jinping, which laid the groundwork for expanded agricultural trade. The White House said China agreed to purchase at least $17 billion in US agricultural products, including a minimum of 25 million tons of soybeans annually through 2028, bolstering optimism over export demand for US crops. Prices also found support from mixed weather forecasts in the US Midwest, which injected uncertainty into the outlook: above-normal temperatures are expected through mid-July, a critical period for crop development, while improving rainfall prospects have helped ease some concerns over potential yield losses.