China Agrees to Buy US Soybeans
China has agreed to buy 12 million metric tons of US soybeans this year, according to US Treasury Secretary Scott Bessent.
Details of the deal have not been released, but it is known that China will also buy 25 million metric tons during the next three years.
Many farmers have already sold their soybean crops at a loss.
Agricultural Council of Arkansas Executive Director Andrew Grobmyer stated that the impact on farmers will be modest, with commodity prices slightly up, potentially allowing farmers who haven't sold their crops to make a little extra money.
Author's summary: China to buy 12 million metric tons of US soybeans.