China Buys Two-Thirds of Pledged U.S. Soybeans in Weeks

China has purchased at least 8 million tons of U.S. soybeans since October, according to sources familiar with the deals. This rapid buying spree means the world's largest soybean importer has already bought about two-thirds of what it promised just two months ago. The purchases are part of an apparent trade truce between Beijing and Washington. In late 2024, Chinese state-owned companies pledged to buy a significant amount of American soybeans. Sources say the state buyers have continued booking U.S. cargoes for delivery through late December. The people asked not to be named because they are not authorized to discuss the transactions. This sustained buying helps fulfill the trade pledge and provides crucial support to U.S. farmers. It also signals a potential thaw in agricultural trade between the two economic powers.