President Donald Trump championed a new deal for U.S. soybean farmers on October 30, 2025, after meeting with Chinese President Xi Jinping in South Korea. As part of the agreement, China has agreed to resume buying soybeans and other agricultural products from the U.S. after months of boycotting them amid trade disputes.
U.S. farmers are expected to regain their soybean sales to China for at least the next three years, based on announcements made earlier Today.
China has again agreed to start buying 25 million metric tons (mmt) — or 918 million bushels (mb) — of U.S. soybeans. That will allow farmers, grain elevators, and shipping infrastructure to begin more deliveries after spending the last few months trying to figure out where to store soybeans to avoid basis levels that were as much as $1.50 under the futures price.
The announced sales equal the same amount of soybeans China bought in the 2023-24 marketing year, which amounted to 54% of all soybean exports.
Treasury Secretary Scott Bessent said on Fox Business Network early Thursday that China agreed to buy at least 25 million metric tons (918 million barrels) each year for at least the next three years. Bessent also said that other countries would buy at least 19 million metric tons (698 million bushels). That’s a total commitment based on trade deals of 1.6 billion bushels (bb).
Bessent said China would buy 12 million metric tons (440 million barrels) between now and January.
November futures quickly jumped more than 19 cents a bushel in early trading after Bessent’s announcement, while January was up 18 cents a bushel.
Key details of the deal:
- Purchases resume: China, previously the largest buyer of U.S. soybeans, had ceased purchases earlier in the year. The agreement brings purchases back to historical levels and will provide relief to American farmers who have been struggling with low crop prices and rising costs.
- Specific volumes: According to Treasury Secretary Scott Bessent, China has agreed to buy 12 million metric tons of soybeans between now and January 2026. This will be followed by annual purchases of 25 million tons over the next three years.
- Trump’s announcement: Trump announced the deal on social media, proclaiming that China would buy “massive amounts of Soybeans, Sorghum, and other Farm products”. He also advised farmers to “immediately go out and buy more land and larger tractors”.
- Broader context: The soybean deal is one of several agreements reached in the meeting between Trump and Xi, which also included a temporary trade truce, a reduction in fentanyl-related tariffs, and an agreement from China to pause its controls on rare earth exports.
- Impact on farmers: For months, the boycott had caused uncertainty for farmers, who had experienced a sharp decline in soybean prices and feared a permanent shift in the market. Some had voiced frustration with the ripple effects of Trump’s trade policies. The announcement of resumed purchases was met with encouragement from farm industry groups.
