Soybeans News Updates

China has fulfilled more than half of its annual U.S. soybean purchase pledge, offering a bright spot for trade between the world’s two largest economies.

The buying splurge is being spearheaded by China’s state-owned agricultural traders, with the private sector largely sitting on the sidelines because the trade isn’t commercially viable.

ADM is beefing up its management as it expects clearer U.S. biofuels policy and renewed soybean trade with China to improve the farm economy.

The U.S. Department of Agriculture on July 8 reported sales of 472,000 metric tons of soybeans for delivery to China.

State-owned firm Cofco has booked at least six cargoes of U.S. soybeans for loading between September and October, Bloomberg reported.

The European Commission, the bloc’s executive arm, wants 35% of oilseeds and protein crops used in animal feed to be EU-grown by 2035.

Soybean farmers are struggling with the high cost of fuel, equipment and fertilizer — compounded by the Iran war — and also tariffs.

The uncertainty has weighed on soybean prices, with Chicago futures headed for a weekly drop of around 4.5%, the most in nearly a year.

China’s imports of canola and canola products from Canada — a trade valued at C$4.9 billion ($3.6 billion) in 2024 — had plunged last year after Beijing imposed steeps levies on the goods.

Treasury Secretary Scott Bessent said Jan. 20 in an interview on Fox Business that Vice Premier He Lifeng confirmed to him that China has completed their soybean purchases.